January 24, 2025 – In a significant milestone, Chinese automaker BYD has surpassed Toyota, the world’s largest automaker, to become the most popular car brand in Singapore in 2024. This marks BYD’s first such victory in the Singaporean market.
According to recently released data from the Land Transport Authority of Singapore on new car registrations by authorized dealers, BYD’s sales surged from 1,416 vehicles in the previous year to 6,191 vehicles in 2024, capturing a market share of 14.4%. Toyota followed closely with 5,736 vehicles sold, while BMW and Mercedes-Benz took third and fourth places with 5,042 and 4,887 vehicles sold respectively. Tesla also achieved a notable milestone, with sales increasing to four digits for the first time, rising from 940 vehicles in 2023 to 2,384 vehicles in 2024.

As reported by Bloomberg today, Chinese automakers are accelerating their expansion into other regions due to facing resistance in Europe and North America. Their technological advantages have allowed them to quickly win in the competition, challenging long-dominant traditional brands. Singapore’s strict car purchase quota policies and high taxes have made cars not just a means of transportation, but also a symbol of status.
Previously, it was reported that BYD had surpassed Toyota in pure electric vehicle sales in the Japanese market. In 2024, BYD sold 2,223 electric vehicles in Japan, an increase of 54% year-on-year. In contrast, Toyota’s electric vehicle sales declined by 30% to just 2,038 vehicles.