SINGAPORE - The year has started well for Chinese electric car maker BYD, which has zoomed past America’s Tesla to become Singapore’s bestselling battery-powered brand in the first five months.
Half of the top 10 bestsellers suffered a dip in market share, with Tesla posting the biggest drop of 13.7 percentage points. Observers said this could be because some novelty associated with the brand had waned, and stronger competition from other EV brands. For the first time, the LTA had itemised parallel import registrations. Parallel imports are vehicles sold by non-authorised retailers, who source their cars from dealers in overseas markets.
Source: Car News Wire (carnewswire.net)
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