Bharatbook com Automotives Report Singapore

Released on: February 6, 2008, 2:44 am

Press Release Author: Bharat Book Bureau

Industry: Automotive

Press Release Summary: The Singapore Automotives Report has been researched at
source, and features latest-available data covering production, sales, imports and
exports; 5-year industry forecasts through end-2011; company rankings and
competitive landscapes for multinational and local manufacturers and suppliers; and
analysis of latest industry developments, trends and regulatory changes.

Singaporean Automotives Report provides industry professionals and strategists,
corporate analysts, auto associations, government departments and regulatory bodies
with independent forecasts and competitive intelligence on the Singaporean
automotives market.

Press Release Body: New vehicle registrations in Singapore have continued on a
growth curve into October 2006, although growth is slower year-on-year (y-o-y).
Sales for the year to October of 126,621 units show a continuation of the trend
towards slower growth, as established in 2005. However, the results are on track to
meet the full-year forecast of 153,241 units, outlined in It\'s Singapore Automotives
Report. The report also maintains forecast for the period to 2010, by which time we
expect new registrations to be a little under 180,000 units, with the small car
segment accounting for the majority of sales due to escalating oil prices.

A proposed free trade agreement (FTA) between Singapore and China should open up
more trade opportunities within the industry, particularly for value-added component
manufacturers supplying carmakers in China. Roughly 50% of Singapore\'s non-oil
domestic exports (NODX) is comprised by electronics, and exports of these to China
have almost doubled over the past two years, from US$2.3bn in 2003 to US$4.1bn in
2005. Moreover, while China has until now been considered a threat in terms of
winning foreign investment in the industry, any FTA between the two countries should
ensure greater bilateral investment and set the wheels in motion for a China-ASEAN

Indeed, Singapore remains a considerably attractive destination for foreign
investors and ranks joint fifth in business environment ranking for the automotive
industry in Asia Pacific. The city-state is only one point behind China overall and
scores higher in criteria such as economic and political risk, as well as regulatory
environment. According to Transparency International\'s corruption index, Singapore
is the least corrupt state in the region. Despite a lack of domestic production in
the automotive industry, a relatively low vehicle ownership rate and an ideal
location to act as a regional re-export hub also make Singapore attractive to
would-be investors.

In terms of the competitive landscape, Toyota\'s long-running dominance of the
country\'s taxi market is being challenged by South Korea\'s Hyundai. Singapore\'s
largest transport provider, ComfortDelGro, has awarded Hyundai a contract to supply
10,000 units of its Sonata model to be used as taxis. The cars will be delivered
over the next four years starting in 2007. Toyota currently accounts for 80% of the
taxi market, which stood at 7,894 units in 2005. The contract should go some way to
improving Hyundai\'s performance from 2005, when it fell from second place to third
following a 6.82% fall in sales.

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Phone:+91-(022)-2757 8668 / 2757 9438
Fax:+91-(022)-2757 9131

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