The severe deterioration in sales volumes and new vehicle registrations in Singapore in 2009 exceeded expectations, especially given a fiscal stimulus package unveiled by Singapore's authorities and the offering of incentives by dealerships to clear stockpiled inventories. Total vehicle sales ended the year down 26.6%, led by a 34% drop in commercial vehicle sales. Sales of cars under 1.6-litres and taxis fell 24.6%, while sales of cars over 1.6-litres 30.7%. Based on this, we have revised its forecast for 2010, given the lower than expected base from 2009. Our revised forecast for new vehicle registrations in 2010 is for a rise of 5% y-o-y, to a total of 93,433 registrations. Full Story
Total Vehicle Sales In Singapore Ended The Year Down 26.6%
OfficialWire, 11 Mar 2010
The severe deterioration in sales volumes and new vehicle registrations in Singapore in 2009 exceeded expectations, especially given a fiscal stimulus package unveiled by Singapore's authorities and the offering of incentives by dealerships to clear stockpiled inventories. Total vehicle sales ended the year down 26.6%, led by a 34% drop in commercial vehicle sales. Sales of cars under 1.6-litres and taxis fell 24.6%, while sales of cars over 1.6-litres 30.7%. Based on this, we have revised its forecast for 2010, given the lower than expected base from 2009. Our revised forecast for new vehicle registrations in 2010 is for a rise of 5% y-o-y, to a total of 93,433 registrations. Full Story
The severe deterioration in sales volumes and new vehicle registrations in Singapore in 2009 exceeded expectations, especially given a fiscal stimulus package unveiled by Singapore's authorities and the offering of incentives by dealerships to clear stockpiled inventories. Total vehicle sales ended the year down 26.6%, led by a 34% drop in commercial vehicle sales. Sales of cars under 1.6-litres and taxis fell 24.6%, while sales of cars over 1.6-litres 30.7%. Based on this, we have revised its forecast for 2010, given the lower than expected base from 2009. Our revised forecast for new vehicle registrations in 2010 is for a rise of 5% y-o-y, to a total of 93,433 registrations. Full Story
