BYD overtakes Tesla to become Singapore’s best-selling electric vehicle brand in the first 5 months of 2023

BYD has overtaken Tesla as the best-selling electric vehicle brand in Singapore, with the Chinese automaker taking the lead over the US brand in vehicle sales in the first five months of 2023. strait of time report.

According to data from the country’s land transport agency (LTA), BYD registered 303 EVs in the republic between January and May, surpassing Tesla, which managed 283 in the same period. In third place is BMW with 249 units. About 20% of BYD’s sales go to private rental operators.

While the race to determine the number 1 place of the year is still open, with a long way to go, BYD will be betting on its chances to finish when the time comes. Although Tesla remained the market leader in Singapore last year, its lead has fallen from 53.1% of all electric vehicles registered in 2021 to 24.1% in 2022. The company that has grown the most in terms of registrations is BYD, trailing only Tesla by 89 by 2022.

The LTA indicates that 1,462 electric cars were registered in the first five months of 2023, accounting for 13.4% of the total number of registered vehicles, a slight increase from the 11.7% recorded in the same period last year. However, the total number of EVs in Singapore remains low, with only 7,961 EVs on the road as of the end of May, accounting for only 1.2% of the total number of cars.

The report adds that half of the top 10 best-selling vehicles, including Mercedes-Benz (171 units), Hyundai (56), Polestar (51), Porsche (43) and MG (42), suffered a decrease in market share. . . Newcomers to the top 10 between January and May were Opel and Volvo, whose sales (98 units) came from electric vehicles replacing Bluecar in the electric car-sharing company. GreenSGof the fleet, while Volvo (57) replaces Audi on the list.