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Country Report

Luxury Cars in

Premium and Luxury Cars in Singapore

Jan 2021

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!

2020 IMPACT

Pandemic negatively impacts value sales of premium and luxury cars

Towards the end of the review period, the demand for premium and luxury cars had been growing gradually due to the greater desire to display one’s social status and wealth in Singapore. Despite a higher rate of Certificate of Entitlement (COE) compared to developed countries such as the US and Europe, the supply of these certificates has gradually reduced; supply follows a 10-year cyclical vehicle population trend, where each COE is valid for 10 years with owners having the option of renewal before expiry.

Luxury electric vehicles continue to penetrate Singapore, while SUVs maintain popularity

Luxury electric cars continued to arrive in Singapore towards the end of the review period, mainly due to higher demand and partly due to the wider goal of making the country’s land transport system more environmentally sustainable. The latter is part of the Land Transport Master Plan 2040 which sees the use of electric vehicles as the heart of this strategy.

Mercedes-Benz and BMW to retain leading positions despite significant drop in sales due to pandemic

Mercedes-Benz (Daimler South East Asia Pte Ltd) and BMW (Performance Motors Ltd for Bayerische Motoren Werke AG) remained notable leading brands within premium and luxury cars in Singapore at the end of the review period, holding double-digit value share prior to the pandemic, placing them at some distance from their closest competitors Audi, Porsche and Jaguar.

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Overview

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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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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

KEY DATA FINDINGS

2020 IMPACT

Pandemic negatively impacts value sales of premium and luxury cars

Luxury electric vehicles continue to penetrate Singapore, while SUVs maintain popularity

Mercedes-Benz and BMW to retain leading positions despite significant drop in sales due to pandemic

RECOVERY AND OPPORTUNITIES

Strong decline in COE costs could stimulate demand for luxury cars

Emerging health and safety features within cars in the wake of the pandemic

Greater consumer acceptance as network of charging points increases likely to drive greater demand for electric cars over forecast period

CATEGORY DATA

Table 1 Sales of Premium and Luxury Cars: Value 2015-2020
Table 2 Sales of Premium and Luxury Cars: % Value Growth 2015-2020
Table 3 NBO Company Shares of Premium and Luxury Cars: % Value 2015-2019
Table 4 LBN Brand Shares of Premium and Luxury Cars: % Value 2016-2019
Table 5 Forecast Sales of Premium and Luxury Cars: Value 2020-2025
Table 6 Forecast Sales of Premium and Luxury Cars: % Value Growth 2020-2025

Luxury Goods in Singapore - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on luxury goods

COVID-19 country impact

Company response

Retailing shift

What next for luxury goods?

MARKET INDICATORS

Table 7 Number of High Net Worth Individuals (HNWI): 2015-2020

MARKET DATA

Table 8 Sales of Luxury Goods by Category: Value 2015-2020
Table 9 Sales of Luxury Goods by Category: % Value Growth 2015-2020
Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2015-2020
Table 11 NBO Company Shares of Luxury Goods: % Value 2015-2019
Table 12 LBN Brand Shares of Luxury Goods: % Value 2016-2019
Table 13 Distribution of Luxury Goods by Format and Category: % Value 2020
Table 14 Forecast Sales of Luxury Goods by Category: Value 2020-2025
Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2020-2025

Megatrends

Country Report

Premium and Luxury Cars in Singapore

New Report Guarantee

Executive Summary

New Report Guarantee

2020 IMPACT

Pandemic negatively impacts value sales of premium and luxury cars

Luxury electric vehicles continue to penetrate Singapore, while SUVs maintain popularity

Mercedes-Benz and BMW to retain leading positions despite significant drop in sales due to pandemic

Overview

Why buy this report?

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Overview

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Table of Contents

Premium and Luxury Cars in Singapore - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Pandemic negatively impacts value sales of premium and luxury cars

Luxury electric vehicles continue to penetrate Singapore, while SUVs maintain popularity

Mercedes-Benz and BMW to retain leading positions despite significant drop in sales due to pandemic

RECOVERY AND OPPORTUNITIES

Strong decline in COE costs could stimulate demand for luxury cars

Emerging health and safety features within cars in the wake of the pandemic

Greater consumer acceptance as network of charging points increases likely to drive greater demand for electric cars over forecast period

CATEGORY DATA

Luxury Goods in Singapore - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on luxury goods

COVID-19 country impact

Company response

Retailing shift

What next for luxury goods?

MARKET INDICATORS

MARKET DATA

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

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