EVs continue to dominate Singapore Motorshow as China entrants roll in; BYD, VW sit out event

IN A sign of Singapore’s continued shift away from petrol-powered cars, electric vehicles (EVs) made up the majority of the car debuts at the Singapore Motorshow 2024.

In anticipation of increased EV adoption this year, as fully electric rides remain eligible for various incentives, mainstream carmakers are introducing more models and foreign brands are rolling in.

Six new Chinese brands – most of them EV players – made debuts at the show, which runs from Jan 11 to 14 at Suntec City and is organised by the Motor Traders Association of Singapore (MTA).

This was even as two automotive giants were conspicuously absent from this year’s line-up.

Out of more than 30 vehicles – including passenger cars, commercial vehicles and show concepts – making their Singapore debuts at the event, 21 are EVs, by The Business Times’ own count.

Mainstream brands and new segments 

Reflecting the growing maturity of Singapore’s market, the EVs on display came from diverse segments, with under half from mainstream brands.

Only four EVs at the show were designed for the Category A Certificate of Entitlement (COE). This is considered the mainstream COE category as it typically costs less than a Category B COE, which is for cars with greater engine capacity or output.

Hyundai displayed two Category A models, the Ioniq 6 RWD sedan and the Kona Electric.

Ng Choon Wee, commercial director of Hyundai distributor Komoco Motors, said: “By introducing two models with Category A COEs, we aim to be more accessible and attractive to mainstream buyers.”

German luxury carmaker BMW raised eyebrows by introducing a model tailored for Singapore’s COE rules: its smallest EV sport utility vehicle (SUV) to date, the iX1.

In international markets, the car’s engine exceeds 149 kilowatts (kW) – but a less powerful version was developed specifically so it could fall within Category A, for EVs with an output of up to 110 kW. A BMW spokesperson said that this was to give more options to customers and for the brand to broaden its market offerings.

Beyond these mainstream options, the EVs on display ranged from tiny SUVs to sports cars, with offerings for various segments of drivers.

Chinese-owned British brand MG displayed Singapore’s first electric sports coupe from a mainstream brand, the Cyberster, which should hit the market later in 2024.

Chinese-owned Swedish brand Volvo introduced the EX30 compact SUV, its smallest car and the first premium European car in its segment to date, with no direct competitors here.

Six brands made their first appearance at the Motorshow, all of them from China: Farizon, Omoda, Ora, LEVC, ShineRay Motors and Seres. All six had confirmed representation deals with Singapore agents in 2023.

Fairzon, LEVC and ShineRay Motors mainly produce commercial vehicles, while Omoda, Ora and Seres make passenger EVs aimed at mainstream audiences.

Zhang Yichao, partner at global consulting firm AlixPartners, said that the appearance of more EV models and EV brands shows the willingness of carmakers – original equipment manufacturers (OEMs) – to continue investing in Singapore and South-east Asia.

He attributed this to supply-side and regulatory dynamics, noting that EV sales have been boosted by policies such as the EV Early Adoption Incentive. EVs made up almost 18 per cent of car sales in Singapore in 2023, up from 12 per cent in 2022 and under 4 per cent in 2021.

“Manufacturers can also smell the opportunity here and are moving as quickly as they can,” he said.

No-show, but roadshow

The count of EVs from mainstream brands would have been higher if two major brands did not sit out the show.

Even as the motorshow was going on, BYD and Volkswagen both debuted new EVs at separate roadshows of their own.

At a roadshow in Suntec City, literally beneath the convention halls where the motorshow was being held, BYD introduced a facelifted version of its popular Atto 3 SUV and previewed a large multi-purpose vehicle, the Denza D9.

Volkswagen’s roadshow at VivoCity mall featured two new EVs for sale: the ID.4 Pro, ID.4 GTX SUVs. It also opened order books for two other SUV models, the ID.5 Pro and ID.5 GTX, which were not displayed at the roadshow. (see * Amendment note)

Cost may have been a factor behind these two brands’ decision to go it alone. BT understands that the cost of these roadshows was less than what the brands spent at the motorshow in 2023.

BYD has had a permanent showroom in Suntec City since August 2023, and could thus take advantage of its status as a tenant to run a car roadshow in the mall’s atrium.

Several car dealers told BT that they felt the motorshow was expensive in comparison with a completely sales-focused roadshow, because of the cost of rental and build-up.

However, others consider it as an important fixture of the car trade.

Ng Khee Siong, managing director of Inchcape Singapore, said: “The motorshow is still the premier automotive event here, so it offers considerable brand value and tactical opportunity for sales.”

Wilfrid Foo, managing director of C&C Singapore, noted: “We are part of the auto community and MTA; so if we’re not here – then who will be?”

And while BYD and Volkswagen were absent this year, that may not necessarily remain the case for future shows.

Car dealers told BT that they expect a healthy attendance at this year’s show, because the sizeable drop in COE prices in January’s first round of bidding has increased interest from car buyers.

The COE supply is expected to increase throughout 2024 and 2025, lifting the passenger car market from the relatively low levels seen in 2023. As the market revives, today’s absent brands could return to next year’s show – especially if they feel that the expense is worth the sales gained in return.

*Amendment note: An earlier version of the story stated that four EV models from Volkswagen were present at its VivoCity mall roadshow, the ID.4 Pro, ID.4 GTX, ID.5 Pro and ID.5 GTX. This is incorrect. Only the ID.4 Pro and ID.4 GTX were present at the roadshow. The ID.5 Pro and ID.5 GTX models, while offered for sale, were not present at the show.