Chinese electric vehicle manufacturer BYD has achieved a historic milestone by becoming Singapore's best-selling car brand in 2024, dethroning long-time market leader Toyota for the first time.
BYD registered an impressive 6,191 vehicle sales in 2024, surpassing Toyota's 5,736 units and capturing a commanding 14.4% market share in the tightly regulated city-state.
The Chinese automaker's remarkable success represents a staggering 337% increase from its 2023 sales of just 1,416 vehicles, demonstrating explosive growth in Singapore's premium automotive market.
According to Singapore's Land Transport Authority (LTA) data on new car registrations by authorized dealers, BYD's achievement marks a significant shift in consumer preferences toward electric vehicles despite Singapore's notoriously high car ownership costs.
The success of popular models like the BYD Atto 3 SUV, priced from S$165,888, highlights growing demand for electric vehicles even in one of the world's most expensive car markets, signaling a broader transformation in Southeast Asia's automotive landscape.
