Retail sales of premium and luxury cars are set to increase at a current value CAGR of 14% (2024 constant value CAGR of 11%) over the forecast period to reach SGD9.8 billion.
Advancements in technology will continue to drive sales across the forecast period, with wealthier consumers looking for advanced performance in addition to digital features. Mercedes-Benz launched its MBUX Virtual Assistant in 2024, offering a 'hyper-personalised user experience.
E-commerce sales of premium and luxury cars are expected to rise in Singapore across the forecast period, with consumers becoming more accustomed to purchasing big-ticket items online. In addition, online shopping has seen rapid advancements across the past five years, with manufacturers having to invest in online showrooms during the outbreak of COVID-19.
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Understand the latest market trends and future growth opportunities for the Premium and Luxury Cars industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Premium and Luxury Cars industry in Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Passenger car vehicles providing exceptional comfort, aimed at the premium market and at drivers wanting a higher level of performance and handling or a vehicle that gives the impression of being capable of high-speed motoring. These cars are generally designed to appeal to high earning, status led consumers and generally retail at US$75,000 plus Example models include: Aston Martin, Ferrari, Jaguar, Bentley, Porsche, McLaren, Maserati, Rolls-Royce and Tesla
See All of Our DefinitionsThis report originates from Passport, our Premium and Luxury Cars research and analysis database.
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