BYD overtakes Toyota, Tesla as Singapore’s top car brand in 2024: Singapore live news

BYD, China’s electric vehicle (EV) giant, has overtaken Toyota to become the most popular car brand in Singapore for the first time.

BYD’s sales skyrocketed by over 300 per cent, outpacing established names like Tesla, Toyota, and BMW.

With a surge of 6,191 cars sold in 2024, BYD secured a commanding 14.39 per cent share of the island’s highly competitive car market.

BYD’s remarkable success is evident in its astronomical year-on-year growth – sales is up 337 per cent compared to 2023.

The brand surpassed Toyota, which saw an impressive 48 per cent increase in sales, reaching 5,736 units.

Other brands like BMW, Mercedes-Benz, and Tesla also showed healthy growth, but none could match the pace set by BYD, which now leads the EV charge in Singapore.

Several factors contributed to BYD’s triumph.

The company’s offerings, such as the Atto 3, Dolphin, and Seal, combined with strong government incentives, drove adoption in the city-state.

Singapore’s push towards net-zero emissions has made EVs like BYD’s more attractive.

With generous rebates and the promise of more charging infrastructure, the Singaporean government is helping accelerate the switch to electric mobility.

BYD’s entry into the luxury market with models like the Denza D9 MPV also helped boost its appeal.

Despite the high cost of car ownership in Singapore, the brand’s well-priced EVs are proving popular with consumers seeking both luxury and sustainability.

While BYD’s dominance in 2024 is impressive, it faces stiff competition in 2025, particularly with the arrival of Tesla’s new Model Y.

However, the rapid expansion of charging infrastructure and BYD’s continued focus on affordable EVs could allow it to hold onto its lead as Singapore’s most popular car brand.

Read on BYD becoming top Singapore car brand here.