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Automotive Report Singapore

  • ID: 2101486
  • Report
  • Region: Singapore
  • 12 Pages
  • The Economist Intelligence Unit
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The automotive industry makes a small contribution to Singapore's economy, mostly through the manufacture of automotive electronics and other components. All vehicles are currently imported, particularly from Japan. However, in October 2018 a UK-based appliance maker, Dyson, announced that it would build an electric car plant in Singapore by 2020.

The government operates a Vehicle Quota System to control the number of vehicles using Singapore's limited road space. Anyone who wishes to register a vehicle must buy a ten-year Certificate of Entitlement (CoE), which can double or triple the cost of a standard car. CoEs are acquired at monthly auctions and their prices can vary widely over time. This system adds considerable volatility to Singapore's automotive market.

The government also publishes a growth target for the city state's overall vehicle stock, which is reviewed on a regular basis. The current target, which came into effect in February 2018, is for zero growth in the stock of private cars and motorcycles until 2020 and 0.25% annual growth in the stock of commercial vehicles until the first quarter of 2021. Around 12% of Singapore's land area is taken up by roads, and the Land Transport Authority (LTA) has stated that land constraints, traffic congestion and pollution have prompted the stock growth freeze. The policy contributed to a sharp drop in new-car sales in 2018, and its negative impact on sales will continue to be felt in 2019-21.

Industry List: Automotive, Automotive, Commercial and other vehicles, Automotive, Fuel sources, Automotive, Passenger vehicles, Automotive, Production
Industry Codes (NAIC): 336
Industry Codes (SIC): 37
Note: Product cover images may vary from those shown
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Automotive Report Singapore

Automotive report: Overview

Automotive report: Passenger cars

Automotive report: Commercial and other vehicles

Automotive report: Production

Automotive report: Fuel sources
Note: Product cover images may vary from those shown
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