Singapore's Love for Supercars Challenging EV Push: Insights from SgMotoringHub
Singapore's Love for Supercars Challenging EV Push: Insights from SgMotoringHub
Uncategorized

Singapore’s Love for Supercars Challenging EV Push:
Insights from SgMotoringHub

Singapore’s goal of phasing out combustion car sales by 2030 has hit a roadblock – its citizens’ love for
supercars. Despite offering incentives and expanding the charging network for electric vehicles (EVs),
Singapore’s push for EV adoption has been slower compared to countries with similar targets. This blog
post, in collaboration with SgMotoringHub, discusses the factors behind Singapore’s love for supercars
and how it is challenging the country’s EV push.

High Demand for Supercars in Singapore

Rising wealth among a cohort of residents has driven luxury sales
Ferraris, Lamborghinis, and McLarens are among the most popular brands
Over the past decade, the number of McLarens has grown more than five-fold to 180 since 2012
Almost five times more Porsches on the road than Teslas

EV Adoption in Singapore

The Singaporean government has been pushing EVs for two years, offering incentives of up to S$45,000
and expanding the charging network
EVs made up almost 12% of all car sales in Singapore last year, up from almost 4% in 2021
Still, EVs represented just 1% of cars on the road, a Reuters analysis of ownership data found

Factors Affecting EV Adoption in Singapore

The high cost of owning a car in Singapore, including a fee of at least S$88,000 for the right to own a
a small car for a decade
The preference for luxury and performance cars among Singaporeans
Limited familiarity and awareness of EVs among the public

SgMotoringHub’s Insights on Singapore’s EV Push

SgMotoringHub, a leading online platform for car enthusiasts in Singapore, has been closely following
the country’s EV push
According to SgMotoringHub, Singaporeans’ love for supercars is challenging the country’s EV adoption
goals
EVs are still perceived as a novelty in Singapore, and the high cost of EVs makes it difficult to compete
with luxury cars
However, SgMotoringHub believes that EV adoption will pick up once more affordable models are
available

Future of EV Adoption in Singapore

Singapore plans to build 60,000 charging points by 2030, up from 1,600 now, which could be a tipping
point to achieve the 2030 target
More affordable and premium EV models, such as Audi’s Q8 e-tron and Q4 e-tron, are expected to hit
the market soon, which could boost EV adoption
Markus Schuster, managing director at Audi Singapore, believes EVs will constitute the majority of new
car sales as early as 2025 or 2026
SgMotoringHub also believes that EV adoption will pick up as more people become aware of the
benefits of EVs, including lower fuel costs and reduced carbon emissions

Conclusion

Singapore’s love for supercars is a roadblock in the country’s EV push, but the situation is not all doom
and gloom. With more affordable and premium EV models hitting the market, and the government’s
plans to expand the charging network, EV adoption in Singapore is expected to pick up. As
SgMotoringHub highlights, education and awareness of EVs will play a key role in driving adoption, and
platforms like SgMotoringHub can help in this regard by providing information and insights on the latest
EV models and technology.

Receive Non-Obligatory Quote

We have the best list of commercial vehicles in both used and new categories.