According to a survey conducted by Rakuten Insight in January 2024, ** percent of respondents in Singapore stated that they do not own a car. Due to strict regulations and high taxes, the car ownership rate in Singapore has been relatively low compared to its neighboring countries.

According to a survey conducted by Rakuten Insight, ** percent of respondents in Singapore who were car owners own a conventional car. In comparison, **** percent own an electric car. The electric car penetration in Singapore was still very low and conventional cars still account for the largest share in terms of ownership.

In 2024, more than 100,000 cars changed ownership in Singapore. This is a slight decrease compared to the previous year, when about ****** cars changed ownership.

As of 2024, Singapore had over *********** registered motor vehicles. The lowest number recorded during the observed period was in 2016, with approximately ******* motor vehicles in operation. Singapore’s car population In 2023, Singapore recorded a large proportion of cars and station wagons in its vehicle population, with around *** thousand of these vehicles on the road, the vast majority of which were for private use. Indeed, during this period, the country recorded around *** thousand private cars, a slight increase from the previous year. The most common type of car among Singaporeans ranged from ***** cc to ***** cc. Sustainability of Singapore's vehicle fleet In 2023, there were only about **** thousand cars over twenty years old on Singapore's roads. Over the same year, around ** thousand cars were less than a year old, indicating a relatively young fleet. The Certificate of Eligibility (COE) system, introduced in May 1990, has played a key role in regulating the car fleet. Despite this, gasoline-powered cars still account for the largest share of cars in the city-state, with a total of about *** thousand vehicles. Although this proportion has fallen slightly over time, petrol-powered cars remain the most popular choice. Looking ahead, Singapore remains committed to phasing out internal combustion engine (ICE) vehicles and aims to switch to cleaner energy sources for all vehicles by 2040.

Key information about Singapore Number of Registered Vehicles

• Singapore Number of Registered Vehicles was reported at 858,198 Unit in Jan 2025.
• This records a decrease from the previous number of 859,211 Unit for Dec 2024.
• Singapore Number of Registered Vehicles data is updated monthly, averaging 781,884 Unit from Jan 1995 to Jan 2025, with 361 observations.
• The data reached an all-time high of 859,211 Unit in Dec 2024 and a record low of 488,126 Unit in Jan 1995.
• Singapore Number of Registered Vehicles data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: No of Registered Vehicles: Monthly.

Key information about Singapore Registered Motor Vehicles

• Singapore Registered Motor Vehicles was reported at 813.346 Unit th in Dec 2015.
• This records a decrease from the previous number of 827.011 Unit th for Dec 2014.
• Singapore Registered Motor Vehicles data is updated yearly, averaging 797.669 Unit th from Dec 2005 to 2015, with 11 observations.
• The data reached an all-time high of 829.236 Unit th in 2013 and a record low of 615.558 Unit th in 2005.
• Singapore Registered Motor Vehicles data remains active status in CEIC and is reported by International Organization of Motor Vehicle Manufacturers. The data is categorized under World Trend Plus’s Association: Automobile Sector – Table RA.OICA.VIU: Vehicle In Use: by Country (Discontinued).

The Singaporean used car market, valued at $45.81 million in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) exceeding 4.60% from 2025 to 2033. This growth is fueled by several key factors. Increasing car ownership amongst a growing and increasingly affluent population drives demand. Furthermore, the rising cost of new vehicles and the preference for more affordable options are bolstering the used car market. Government initiatives focused on sustainable transportation and easing of import regulations for used cars could further contribute to market expansion. The market is highly competitive, with established players like Carro, SgCarMart, and CarTimes vying for market share alongside numerous independent dealerships. The diverse range of vehicles available, from budget-friendly options to luxury used cars, caters to a broad spectrum of consumer needs and preferences. However, potential market restraints include fluctuations in economic conditions, government regulations impacting vehicle imports, and the increasing popularity of ride-hailing services which may impact personal car ownership. The segmentation within the used car market in Singapore is largely based on vehicle type, age, and price range. Premium used car segments are likely experiencing strong growth mirroring global trends of increased demand for luxury vehicles. Conversely, the entry-level segment may be subject to more price sensitivity. Digitalization of the used car buying experience is another key trend. Online platforms and marketplaces have revolutionized how consumers research and purchase used vehicles, offering transparency and convenience. This rapid digital transformation is pushing traditional dealerships to adapt and integrate e-commerce strategies to remain competitive. The continued success of the Singaporean used car market will depend on adapting to changing consumer preferences, technological advancements, and government policies. Effective marketing strategies, including robust online presence and tailored customer service, will be crucial for success within this competitive landscape. Key drivers for this market are: The Increasing Use of Online Platforms. Potential restraints include: Stringent Governmental Regulations and Import Taxes. Notable trends are: Organized Segment Expected to Hold Significant Share in the Market.

The Singapore Electric Vehicle Market Report is Segmented by Vehicle Type (Passenger Cars and Commercial Vehicles), Drive Train Technology (Battery Electric Vehicles (BEV), Plug-In Hybrid Electric Vehicles (PHEV), and More), Battery Capacity (Up To 50 KWh and More), and End User (Private Individual Owners, Commercial Fleet Operators, and More). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

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Singapore Automotive Market Size 2023-2027

The singapore automotive market size is forecast to increase by 22972.00 units, at a CAGR of 6.08% between 2022 and 2027.

The market is witnessing significant growth, driven by the increasing demand for fuel-efficient and low-emission vehicles. This trend aligns with the Singaporean government's commitment to reducing carbon emissions and promoting sustainable transportation. Moreover, technological advances in Electric Vehicles (EVs) are gaining traction, offering consumers a more eco-friendly and cost-effective alternative to traditional combustion engine vehicles. However, the market faces a notable challenge: the insufficient charging infrastructure. Despite the growing popularity of EVs, the limited availability of charging stations poses a significant barrier to widespread adoption. Companies seeking to capitalize on this market opportunity must address this challenge by investing in the development of robust charging infrastructure. Additionally, collaborating with the government and industry partners to expand charging station networks and promote EV adoption can help businesses navigate this obstacle and establish a strong market presence. Overall, the market presents a strategic landscape ripe with opportunities for companies that can effectively address the challenges and meet the evolving needs of consumers.

What will be the size of the Singapore Automotive Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2017-2021 and forecasts 2023-2027 - in the full report.
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In the dynamic Singapore automotive market, innovation drives growth as automakers integrate advanced technologies. Automotive paint hues transform with AI-driven color selection, while driver monitoring systems ensure road safety. Parking assist and climate control systems enhance user experience. Big data analytics optimizes engine performance through fuel injector and engine oil analysis. Emergency braking and lane keeping assist systems employ AI for proactive safety measures. Hydrogen fuel cells and alternative fuels, including fuel cell technology and electric motors, reduce carbon emissions. Adaptive cruise control and blind spot monitoring ensure seamless driving experiences. Vehicle-to-grid (V2G) technology and solid-state batteries power the future of sustainable transportation. 3D printing revolutionizes vehicle upholstery production, while lithium-ion batteries and battery cells fuel the rise of electric vehicles. Over-the-air (OTA) updates and power electronics enable real-time vehicle optimization. Traffic sign recognition and digital cockpits offer enhanced connectivity, while audio systems and navigation apps provide personalized in-car entertainment. Head-up displays (HUDs) and smartphone integration keep drivers informed and engaged. Manufacturing automation streamlines production processes, from catalytic converters to power inverters. The Singapore automotive market continues to evolve, embracing the future of transportation.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD units' for the period 2023-2027, as well as historical data from 2017-2021 for the following segments. TypeHatchbackSedanSUVMPVGeographyAPACSingapore

By Type Insights

The hatchback segment is estimated to witness significant growth during the forecast period.

In Singapore's automotive market, hatchbacks are a preferred choice due to their compact size, fuel efficiency, and practicality, making them ideal for city driving. The hatchback segment is highly competitive, with a blend of established global brands and local players vying for market share. Leading automakers offer a diverse range of hatchback models, prioritizing fuel efficiency, performance, and affordability. Environmental consciousness is shaping the hatchback segment in Singapore, with government regulations and consumer preferences driving the shift towards eco-friendly vehicles. As a response, automakers are introducing hybrid and electric hatchback models, offering reduced emissions and lower operating costs compared to traditional Internal Combustion Engine (ICE) vehicles. Autonomous driving technology is also gaining traction in the market, with autonomous taxis and driverless cars becoming increasingly common. Transmission systems are evolving, with a focus on fuel efficiency and smooth operation for both ICE and electric vehicles (EVs). Navigation systems and infotainment systems are becoming more advanced, offering real-time traffic updates, voice commands, and connectivity features. The use of lightweight materials, such as aluminum alloys and carbon fiber, is on the rise in vehicle manufacturing, contributing to improved vehicle performance and reduced fuel consumption. The market is al

The Singapore automotive market, while relatively small in geographical size, exhibits robust growth potential driven by factors such as rising disposable incomes, increasing urbanization leading to higher vehicle ownership, and government initiatives promoting sustainable transportation. The market's strong CAGR of 6.03% from 2017-2027 indicates sustained expansion. This growth is further fueled by a shift towards electric vehicles (EVs), a trend supported by Singapore's commitment to environmental sustainability and its active promotion of EV adoption through infrastructure development and incentives. However, stringent regulations on vehicle ownership and high costs associated with vehicle purchase and maintenance in Singapore pose challenges to market expansion. Segmentation analysis reveals that passenger cars dominate the market, with SUVs and MPVs experiencing significant growth, reflecting changing consumer preferences. The presence of both global automotive giants like Toyota, BMW, and Mercedes-Benz, alongside EV pioneers like Tesla, highlights the competitive landscape. The market's structure suggests a healthy mix of established brands and innovative entrants, shaping the future trajectory of the Singapore automotive sector. Looking ahead to the forecast period (2025-2033), the market's expansion will likely be influenced by the success of government policies aimed at promoting EV adoption and mitigating the environmental impact of transportation. The continued growth in the high-value segment, exemplified by brands like Aston Martin and Porsche, indicates a demand for luxury vehicles alongside the increasing popularity of EVs. The success of companies like Tesla in Singapore will be an important indicator of future market dynamics. Competitive pricing strategies, advancements in EV technology, and infrastructure development will play a crucial role in shaping market share and driving overall growth. The blend of luxury, practical, and environmentally conscious vehicle options will continue to define consumer choices and ultimately determine the trajectory of the Singapore automotive market in the coming years.

In a survey on sustainable habits and awareness of climate change conducted in Singapore, the majority of respondents who could drive stated that they spent ** minutes and more driving a car per day. This is despite them being aware of the carbon impact of the driving habits.

The used car market in Singapore is projected to grow at a CAGR of 4.60% during the forecast period 2025-2033. The market size was valued at 45.81 million in 2019 and is expected to reach USD 67.43 million by 2033. The growth of the market can be attributed to the rising popularity of used cars, as well as the increasing number of online car marketplaces. Some of the key drivers of the used car market in Singapore include the increasing number of car owners, the rising cost of new cars, and the increasing popularity of online car marketplaces. The increasing number of car owners is due to the rising population of Singapore, as well as the increasing affordability of cars. The rising cost of new cars is another factor that is contributing to the growth of the used car market, as consumers are increasingly opting for used cars to save money. The increasing popularity of online car marketplaces is also a key factor that is driving the growth of the used car market, as these platforms make it easier for consumers to find and purchase used cars. Recent developments include: May 2022: Eurokars Group and Porsche announced the formation of Porsche Singapore Pte Ltd, a new venture with a focus to explore emerging automotive retail concepts that will continue to create customer-centric experiences in Singapore., March 2022: Used car platform Carsome acquired a 51% stake in Car Times Group, a Singapore-based used car dealer and parallel importer. The investment is aimed at competing better with Carsome's rival Carro, another Southeast Asian used car platform headquartered in Singapore., February 2022: A consortium led by Toyota Financial Services Singapore purchased sgCarMart from Singapore Press Holdings for USD 150 million. The all-cash deal includes SGCM's intellectual property and its subsidiaries, Quotz Pte Ltd, Singapore's leading consumer-to-business online car auction platform, and Quotz (Taiwan) Pte Ltd. However, it excludes its financial services arm. The consortium comprises three companies, led by majority shareholder TFFSG, which will hold 76% of the shares in SGCM.. Key drivers for this market are: The Increasing Use of Online Platforms. Potential restraints include: Stringent Governmental Regulations and Import Taxes. Notable trends are: Organized Segment Expected to Hold Significant Share in the Market.

The Singapore Passenger Vehicles Lubricants Market size was valued at USD 1.00 Billion in 2024 and is projected to reach USD 1.5 Billion by 2032, growing at a CAGR of 5.9% from 2026 to 2032.

Key Trends:

• Shift towards Synthetic and Semi-Synthetic Lubricants: With modern automobiles requiring high-performance lubricants, there is an increasing preference for synthetic and semi-synthetic oils. These lubricants provide greater thermal stability, longer drain intervals, and higher fuel efficiency. According to Frost & Sullivan’s 2023 study, synthetic lubricants represented for approximately 60% of the passenger car lubricant market in Singapore, indicating a strong demand for premium goods.

• Growth in Environmentally Friendly Lubricants: Sustainability is a growing trend in Singapore, with a greater demand for eco-friendly, biodegradable lubricants. Manufacturers are concentrating on developing products.

Singapore Motor Insurance Market is Segmented by Policy Type (Comprehensive, Third-Party Fire and Theft, Usage Based and More), Vehicle Type (Private Passenger Car, Motorcycles, and Scooters, and More), Distribution Channel (Agents and Brokers, Direct, Online Price Aggregators, Bancassurance and Automotive Dealerships), and End Users (Personal, Commercial). The Market Forecasts are Provided in Terms of Value (USD)

Singapore Automotive Engine Oils Market size was valued at USD 850 Million in 2024 and is projected to reach USD 1,185 Million by 2032, growing at a CAGR of 4.2% from 2026 to 2032.

Key Market Drivers:

High Vehicle Usage Rates: The high use of passenger automobiles in Singapore creates a steady demand for engine oils. The market is expected to reach 12.07 million liters by 2024, with passenger cars accounting for the majority of lubricant demand.

Regular Vehicle Maintenance Practices: Singapore's strict vehicle maintenance requirements and consumer knowledge lead to consistent engine oil use. The market is expected to increase at a 4.14% CAGR between 2024 and 2026, reaching 13.09 million liters by 2026.

The vehicle evaluation services market is experiencing robust growth, driven by increasing vehicle ownership globally, stricter emission regulations, and a rising demand for accurate vehicle condition assessments before purchase or sale. The market's expansion is further fueled by the integration of advanced technologies like AI-powered image recognition and automated reporting systems, which enhance efficiency and accuracy of inspections. While the precise market size for 2025 is unavailable, considering a plausible CAGR of 8% (a conservative estimate based on similar service markets) and a hypothetical 2019 market size of $5 billion, we can estimate a 2025 market size of approximately $7.8 billion. This growth trajectory is expected to continue through 2033. Key players like TÜV Rheinland, AA Singapore, and Carchex are leveraging technological advancements and expanding their service portfolios to capture a larger market share. The increasing prevalence of online vehicle marketplaces also contributes to the market's expansion, as buyers seek professional evaluations to mitigate risks associated with used vehicle purchases. Geographic variations exist, with developed economies exhibiting higher adoption rates due to stronger consumer awareness and regulatory frameworks. Despite the positive market outlook, challenges persist. These include the fluctuating prices of used vehicles, the need for consistent standardization across different evaluation methodologies, and the potential for increased competition from new entrants. Furthermore, overcoming consumer skepticism regarding the objectivity and accuracy of assessments remains crucial for continued market expansion. Segmentation within the market shows a clear division based on service type (pre-purchase inspections, damage assessments, etc.), vehicle type (cars, trucks, motorcycles), and geographic region. Addressing these challenges and capitalizing on technological advancements will be key for market participants to achieve sustainable growth in the years to come.

The average for 2021 based on 165 countries was 108.07 index points. The highest value was in Singapore: 355.77 index points and the lowest value was in Syria: 58.27 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

Singapore Exports of motor cars and vehicles for transporting persons to United States was US$6.77 Million during 2023, according to the United Nations COMTRADE database on international trade. Singapore Exports of motor cars and vehicles for transporting persons to United States - data, historical chart and statistics - was last updated on September of 2025.

The ASEAN electric vehicle (EV) market is experiencing robust growth, driven by supportive government policies promoting sustainable transportation, increasing environmental awareness among consumers, and falling battery costs. While precise market share data for ASEAN within the global context is not provided, extrapolating from the global CAGR of 32.73% and considering the region's rapidly developing economies and increasing vehicle ownership, a significant growth trajectory is anticipated. Factors such as improving charging infrastructure, rising disposable incomes, and the introduction of more affordable EV models are further accelerating adoption. However, challenges remain, including limited charging infrastructure in certain areas, concerns about range anxiety, and the relatively higher initial cost of EVs compared to internal combustion engine (ICE) vehicles. Government initiatives focused on incentivizing EV purchases, developing robust charging networks, and fostering local EV manufacturing are crucial to overcome these obstacles. The competitive landscape in the ASEAN EV market is dynamic, with both global and local players vying for market share. Established automakers like Toyota, Honda, and Hyundai are actively investing in EV production and distribution networks within the region. Furthermore, Chinese EV manufacturers are making significant inroads, offering competitive pricing and technologically advanced models. The success of these companies will depend on their ability to adapt to the specific needs and preferences of the ASEAN market, including catering to diverse vehicle types and adapting to varying levels of infrastructure development across different countries within the region. The next decade will likely witness a substantial shift towards EV adoption in ASEAN, transforming the automotive landscape and contributing significantly to the region's economic and environmental goals. Recent developments include: July 2022: BYD launched the ATTO 3 SUV in Singapore. The ATTO 3 has a basic 150kW motor that allows it to sprint from 0 to 100 km/h in 7.3 seconds. The EV has a range of 480 km on a single charge., March 2022: Volvo launched its electric car C40 in Thailand. The car will be imported from the Chinese plant, priced at 2.75 million baht., January 2022: Toyota planned to introduce the BZX4 electric SUV in Thailand and Singapore by the end of 2022., December 2021: BMW Group Asia launched the first-ever BMW iX and new BMW iX3 electric cars in Singapore.. Notable trends are: Battery Electric Vehicle is Dominating the Market.

This report covers Singapore Used Car Market, Singapore Used Car Market Competition, Used Car Dealers Singapore, Number of Online Used Car Companies Singapore, Snapshot Singapore Used Car, Used Car Market Value Chain, Used Car Sales Singapore, Used Car to New Car Ratio Singapore, Value Chain of Used Car Industry in Singapore.