Singapore Growth Continues To Slow

Singapore's trend towards slower growth in the automotive industry continued for the latter part of 2006, as full-year sales of 149,083 units fell just short of BMI's forecast of 153,241 units. By year-end, sales had risen by just 2.77%, compared with 10% growth in 2005 and 10.5% in 2004. Sales in the small car segment, which had been expected to lead market growth, in fact fell by 0.6% y-o-y, while an unexpected turn saw the large segment (over 1,600cc) grow by 13%. As a result, BMI's recently published Singapore Automotives Report, has revised its forecast to reflect much slower growth

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