LTA figures show huge buying frenzy of Teslas in S’pore, with 487 new registrations in Q3 2021

Last Monday (October 18), it was reported that Tesla has become the best-selling electric vehicle (EV) brand in Singapore just two months after entering the market.

Overall, it is also been listed the sixth best-selling car brand here, outranking other car brands like Nissan, Audi and Kia, according to Land Transport Authority (LTA)’s September 2021 data.

To shed some perspective on its sales, Tesla has sold a total of 314 cars in September alone — this is twice the number of cars sold as compared to August.

Separate data from LTA revealed that the number of new Teslas on Singapore roads has increased to 487 in the third quarter, compared to just eight in July 2021.

In contrast, the first half of 2021 only recorded five new Tesla registrations. However, do note that Tesla only launched its sales portal in February.

As a whole, Tesla made up 1.4 per cent of 36,629 new car registrations in Singapore this year, compared with top player Toyota’s 20.4 per cent.

These statistics prove that there has been a huge buying frenzy of Teslas in Singapore, a country that has been dubbed as one of the world’s most expensive places to own a vehicle.

On Tesla’s website, it showed that new buyers would have to wait four to 12 weeks to get their cars, but this doesn’t seem to faze them.

It’s also worthy to note that there is only one Tesla model available in Singapore — the Tesla Model 3 — which is also their most affordable model.

It comes in two different versions though, the Model 3 (Standard Range Plus) and Model 3 (Performance).

In Singapore, the basic Tesla Model 3 costs between S$160,000 and S$200,000, without any add-ons.

It’s not clear what exactly caused this surge in sales, though Singapore did announce this year up to S$45,000 subsidy for EV buyers.

Earlier this week, Tesla surpassed USS$1 trillion in market value, surpassing the combined value of its five biggest rivals: Toyota Motor Corp, Volkswagen AG, Daimler AG, Ford Motor Co, and General Motors.

Featured Image Credit: Tesla