Singapore Holds Its Own

A lack of domestic production has not hindered Singapore's automotive industry, due to the country's ideal location as a regional hub for re-exports. New vehicle registrations maintain healthy growth, despite restrictions on the number of vehicles allowed on the roads. Sales for the first seven months of 2006 were 3% higher y-o-y, which supports the view in BMI's recently published "Singapore Automotives Report" that growth of 5% is attainable. The Report also highlights a move towards the small car segment in response to increasing fuel prices, reflected in higher than expected sales for vehicles with engines under 1.6-litres in 2005.

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