Singapore’s Automobile Sales Results in the First Half of 2024

In Singapore, electric vehicle (HEV / BEV / PHEV) sales are increasing rapidly. Of the 22,000 new vehicle registrations in the first half of 2024, electric vehicles accounted for around 70%. The ratio of electric vehicles increased by 20.6 points compared to the same period last year. The tax deduction amount was lowered from the beginning of 2024, so demand was expected to slow down, but certificate of entitlement (COE) prices remained high.