The short version: in the first half of 2026, one in four new cars registered in Singapore was a BYD. Six in ten were electric. Neither number was true eighteen months ago, and both are still climbing. Here's what's actually driving it — and what it means whether you're buying, selling, or just watching your COE.
The headline number, in context
Twelve months ago, roughly 4 in 10 new cars in Singapore were electric. Today it's 6 in 10 — and the market itself grew 13.3% on top of that, meaning EV volume didn't just take share from petrol, it added genuinely new buyers. That combination is unusual: markets that electrify fast, like Norway's, typically do so as overall volume plateaus. Singapore's is expanding and electrifying at the same time.
Why BYD specifically
Three things compound. First, price: BYD's EVs undercut comparable German and Japanese models significantly before COE, and remember the residual-pricing logic that governs this market — a cheaper car doesn't relieve COE, but it does make the total package more attractive at a given COE level, which is what actually moves buyers. Second, the 110kW Cat A threshold: many BYD models slot under it, letting buyers get a genuinely quick, capable EV on the cheaper certificate category, competing directly against ICE cars that used to own that segment. Third, momentum begets momentum — with BYD now the best-selling brand outright, resale confidence and parts/service infrastructure both improve, which further de-risks the next buyer's decision. It's a flywheel, and eighteen months in, it's spinning fast.
What it means for COE
This is the part that connects directly to what you actually pay. Remember the residual-pricing rule from our COE outlook: COE absorbs whatever budget is left after the car itself. A flood of well-specced, comparatively affordable EVs doesn't lower COE — it widens the pool of people who can now afford to bid, which is demand-side fuel. That's a real part of why Cat A premiums have stayed firm even as "cheap EVs" flooded in: cheap is relative, and COE eats the difference. The 62.4% EV share also tells you exactly why the Aug\u2013Oct quota cut to Cat A lands at an especially inconvenient moment \u2014 less supply into a segment where EV demand is structurally growing, not just having a moment.
What it means if you're buying, selling, or just watching
- Cross-shopping an EV right now? You're buying into the most competitive segment in the market's history \u2014 which is good for spec-for-price, but remember the 31 Dec EEAI deadline is pulling exactly this kind of buyer forward, so don't expect a quiet market between now and year-end.
- Own an ICE car and thinking of selling? A market moving to 62% electric changes resale dynamics for petrol cars over the medium term \u2014 worth getting an actual valuation rather than assuming last year's numbers still hold.
- Just curious how your brand is doing? The Market Explorer has the full 2026 registration table, every make, with fuel-type and month-by-month detail \u2014 tap any brand to see its own trajectory.
Tell me what you're driving and what you're considering \u2014 I'll give you a straight comparison including COE, incentives and resale, not just the sticker price.
Figures from LTA registration data as reported H1 2026. Analysis is general commentary, not financial advice.