Key Market Indicators
Singapore's car registration numbers are projected to climb to approximately 83,680 units by 2028, up from around 81,350 units in 2023. This growth represents a modest compound annual growth rate (CAGR) of 0.5% year over year. Despite this incremental increase, Singapore has seen a slight decline in car registration demand since 2010, with a year-on-year decrease of 0.1%. In the global ranking for 2023, Singapore held the 58th position, with Ireland narrowly ahead, registering the same number of units. Leading the rankings were Indonesia, Austria, and Belgium, securing the second, third, and fourth positions, respectively.
