The Business Times
COMMENTARY
·
SUBSCRIBERS

BYD or Toyota: Who will top Singapore car registrations in 2025 and beyond?

BYD’s remarkable momentum looks set to continue, but further ahead the playing field could be more level if EV rebates reduce

Summarise
Derryn Wong

Derryn Wong

Published Mon, Feb 3, 2025 · 05:00 AM
    • Factoring in parallel imports, Toyota was the top selling car brand in Singapore in 2024, but BYD was number one in authorised dealer sales.
    • Factoring in parallel imports, Toyota was the top selling car brand in Singapore in 2024, but BYD was number one in authorised dealer sales. PHOTO: DERRYN WONG, BT

    CHINESE carmaker BYD had an extraordinary 2024, selling around 4.2 million vehicles worldwide, of which around 1.8 million were electric vehicles (EVs).

    That puts it on track to be ahead of Ford and Honda, though still far from industry leader Toyota, which had already sold more than nine million vehicles by November 2024.

    Yet in Singapore, BYD is now Toyota’s closest competitor, with a very real chance of eclipsing the Japanese automaker in new sales this year.

    BYDToyotaAutomotiveElectric vehiclesCar sales

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback
    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More