Too early to say if Red Sea situation will affect car deliveries, prices in Singapore

WHETHER Singapore’s car deliveries and prices will be hit by Red Sea shipping disruptions remains to be seen, said industry observers, adding that while there may be eventual delays and higher costs, this is likely to happen only after the first quarter of 2024.

Yemeni rebel attacks have caused major shipping lines to avoid the Suez Canal, a key route for shipments from Europe to Asia.

The potential effects are therefore limited mostly to cars originating from Europe, said Corinne Chua, managing director for Volvo at car dealership group Wearnes Automotive.