Electric car sales are booming. That means trouble ahead

THE Singapore Motorshow 2026 kicked off on Jan 8 with the usual bustle and optimism.

Now that the lights are off and the cars have been wheeled out, dealerships will be doing what they always do after the event: tallying sales, comparing notes and working out whether 2026 has gotten off to a strong start for them.

But this year’s show foretold a coming drought that will starve the industry of cash flow. A record number of electric vehicles (EVs) made their debut, in line with huge momentum for battery power; EVs accounted for nearly half of registrations in 2025, an all-time high.