BYD overtakes Tesla to turn out to be Singapore’s top-selling EV model for the primary 5 months of 2023

BYD has overtaken Tesla because the top-selling electrical car model in Singapore, with the Chinese language automaker surging forward of the American model in items bought for the primary 5 months of 2023, the Straits Instances studies.

In response to information from the nation’s land transport authority (LTA), BYD registered 303 EVs within the republic from January to Could, placing it forward of Tesla, which managed 283 items throughout the identical interval. In third place was BMW with 249 items. About 20% of BYD gross sales had been to private-hire operators.

Whereas the race to find out the No 1 spot for the yr nonetheless stays open, with fairly a method to go, BYD will fancy its probabilities on ending high when the time comes. Though Tesla remained the market chief in Singapore final yr, its lead had dropped from 53.1% of all EVs registered in 2021 to 24.1% in 2022. The most important gainer when it comes to registration figures was BYD, which completed simply 89 items behind Tesla in 2022.

The LTA indicated that 1,462 electrical vehicles had been registered within the first 5 months of 2023, accounting for 13.4% of complete car registrations, up barely from the 11.7% recorded in the identical interval final yr. Nonetheless, the whole variety of EVs in Singapore stays low, with simply 7,961 electrical vehicles on the street as of end-Could, accounting for simply 1.2% of the whole automobile inhabitants.

The report added that half of the highest 10 bestsellers, which incorporates the likes of Mercedes-Benz (171 items), Hyundai (56), Polestar (51), Porsche (43) and MG (42), suffered a dip in market share. Newcomers to the highest 10 listing for the January-Could interval had been Opel and Volvo, the previous’s quantity (98 items) coming from its EVs changing the Bluecar in electrical car-sharing firm BlueSG‘s fleet, whereas Volvo (57) changed Audi within the listing.