It scored 74.6 out of 100.
Singapore leads the pack of Southeast Asian countries in terms of auto sales, said BMI Research.
According to BMI Research’s auto sales risk-reward index (RRI), Singapore registered a score of 74.6 out of 100. This places the country in the top 20 highest scoring countries globally, coming in at number 14 out of the 124 countries covered.
Singapore’s score sits in the 'high rewards, low risk' spot in the spectrum.
"Robust growth opportunities for new and existing entrants, high levels of urbanisation, strong consumer purchasing power, and world-class road infrastructure help Singapore top the regional ranking for the ASEAN region in our Autos Sales RRI," said BMI Research, noting that on the rewards side, Singapore got an overall score of 67.5.
In terms of risks, BMI Research said Singapore has an attractive regulatory environment, a very stable long-term economic and political outlook, and a low-risk business environment.
"These factors combine to make Singapore a highly attractive market for automakers to enter and operate vehicle retailing activities in the ASEAN region," it said.
Photo from ProjectManhattan/Wikimedia Commons.
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