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Country Report

Luxury Cars in

Premium and Luxury Cars in Singapore

Feb 2020

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Reduced supply of Certificates of Entitlement impacts demand for upmarket cars

Smaller supply of Certificate of Entitlement (COE) compared to 2018 continued to affect the category in 2019. However, interest in luxury cars continues to increase, as such vehicles are marketed as safer than cheaper alternatives.

Electric cars have to overcome consumer concerns regarding the technology’s limitations

While an increasing number of Singaporean consumers own electric vehicles, they still represent only a small proportion of total automobile sales. This is due to consumer concerns regarding the lifespan of these vehicles, the warranty of the car battery, and the availability of public charging points.

Further developments needed before Tesla officially enters Singaporean car market

Tesla, a global leader in luxury electric cars, has yet to officially enter Singapore. In 2018, Elon Musk, Chief Executive of Tesla Inc, stated that he did not believe that Singapore was supportive of electric vehicles.

COMPETITIVE LANDSCAPE

Mercedes-Benz A-Class sedan launch boosts Daimler South East Asia’s value share

Mercedes-Benz has the highest number of passenger car registrations, followed by BMW. The recently launched Mercedes-Benz A-Class sedan boosted sales of Mercedes-Benz towards the end of the review period.

Premium Automobiles maintains growth as Audi on Demand service stimulates consumer interest

2018 saw Audi introduce a short-term leasing service – Audi on Demand – for consumers in Singapore. Customers can rent one of its cars for periods from four hours to 28 days.

BMW could benefit from first-player advantage in electric car segment

Performance Motors Ltd, owner of the BMW brand in Singapore, also saw a value share increase in 2018. The BMW 3 and 5 series remained the best-selling BMW brands, and BMW was also the first to offer an electric car in Singapore.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Files are delivered directly into your account within a few minutes of purchase.

Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Cars industry in Singapore with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Luxury Cars industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Cars in Singapore market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Luxury Cars in Singapore?
What are the major brands in Singapore?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our

Luxury Goods market research database.

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Premium and Luxury Cars in Singapore - Category analysis

HEADLINES

PROSPECTS

Reduced supply of Certificates of Entitlement impacts demand for upmarket cars

Electric cars have to overcome consumer concerns regarding the technology’s limitations

Further developments needed before Tesla officially enters Singaporean car market

COMPETITIVE LANDSCAPE

Mercedes-Benz A-Class sedan launch boosts Daimler South East Asia’s value share

Premium Automobiles maintains growth as Audi on Demand service stimulates consumer interest

BMW could benefit from first-player advantage in electric car segment

CATEGORY DATA

Table 1 Sales of Premium and Luxury Cars: Value 2014-2019
Table 2 Sales of Premium and Luxury Cars: % Value Growth 2014-2019
Table 3 NBO Company Shares of Premium and Luxury Cars: % Value 2014-2018
Table 4 LBN Brand Shares of Premium and Luxury Cars: % Value 2015-2018
Table 5 Forecast Sales of Premium and Luxury Cars: Value 2019-2024
Table 6 Forecast Sales of Premium and Luxury Cars: % Value Growth 2019-2024

Luxury Goods in Singapore - Industry Overview

EXECUTIVE SUMMARY

Foreign visitors important across the market, lifestyle factors also influential

Promotional activities raise awareness of Singapore as tourist destination

Singapore’s diversity offers opportunity to test beauty and personal care products, tech developments set to boost experiential luxury

Online sales gain share, but bricks and mortar remains important

Coronavirus impact uncertain, players may have to consider strategy changes as lifestyle and environmental factors remain important

MARKET INDICATORS

Table 7 Number of High Net Worth Individuals (HNWI): 2014-2019

MARKET DATA

Table 8 Sales of Luxury Goods by Category: Value 2014-2019
Table 9 Sales of Luxury Goods by Category: % Value Growth 2014-2019
Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2014-2019
Table 11 NBO Company Shares of Luxury Goods: % Value 2014-2018
Table 12 LBN Brand Shares of Luxury Goods: % Value 2015-2018
Table 13 Distribution of Luxury Goods by Format and Category: % Value 2019
Table 14 Forecast Sales of Luxury Goods by Category: Value 2019-2024
Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2019-2024

Megatrends

Country Report

Premium and Luxury Cars in Singapore

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Reduced supply of Certificates of Entitlement impacts demand for upmarket cars

Electric cars have to overcome consumer concerns regarding the technology’s limitations

Further developments needed before Tesla officially enters Singaporean car market

COMPETITIVE LANDSCAPE

Mercedes-Benz A-Class sedan launch boosts Daimler South East Asia’s value share

Premium Automobiles maintains growth as Audi on Demand service stimulates consumer interest

BMW could benefit from first-player advantage in electric car segment

Overview

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Overview

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Table of Contents

Premium and Luxury Cars in Singapore - Category analysis

HEADLINES

PROSPECTS

Reduced supply of Certificates of Entitlement impacts demand for upmarket cars

Electric cars have to overcome consumer concerns regarding the technology’s limitations

Further developments needed before Tesla officially enters Singaporean car market

COMPETITIVE LANDSCAPE

Mercedes-Benz A-Class sedan launch boosts Daimler South East Asia’s value share

Premium Automobiles maintains growth as Audi on Demand service stimulates consumer interest

BMW could benefit from first-player advantage in electric car segment

CATEGORY DATA

Luxury Goods in Singapore - Industry Overview

EXECUTIVE SUMMARY

Foreign visitors important across the market, lifestyle factors also influential

Promotional activities raise awareness of Singapore as tourist destination

Singapore’s diversity offers opportunity to test beauty and personal care products, tech developments set to boost experiential luxury

Online sales gain share, but bricks and mortar remains important

Coronavirus impact uncertain, players may have to consider strategy changes as lifestyle and environmental factors remain important

MARKET INDICATORS

MARKET DATA

SOURCES

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