Overview
Post the closure of its last automotive factory in 2006, Singapore’s automotive industry predominantly relies on imports
Despite the proximity to Asia’s top automotive manufacturing nations, Singapore does not have any automotive manufacturing facilities in the country. Its regional peers - China, Korea and Japan - together account for around 51% of the global automotive manufacturing market share, overtaking US and European car manufacturers in 2021.
However, Singapore has been predominantly importing vehicles after the closure of its last automotive manufacturer, Ford Motor Company’s factory, in 2006. The value of Singapore’s car imports in 2020 was USD 21 billion, accounting for less than 1% of the country’s total imports during the year.
Singapore’s car population minimal, due to strict government policy and promotion of public transport
Singapore’s car population is small, with around 674,000 passenger cars in 2021, compared to its 5 million population. The country’s car ownership rate was around 11% in 2019, compared to other developed nations such as the US (80%) and Europe (50%). The lower car ownership rate is a result of Singapore’s policy to reduce car ownership and increase public transport options.
The Singaporean government aims to control its car population in order to reduce traffic congestion within its small land area, where roads already accounted for around 12% of total land area in 2019; this compares against the 14% land area for housing in 2019. Singapore has an efficient public transportation system and encourages the usage of public transportation, compared to private vehicle ownership. As a result, a new car, on average, could cost around USD 99,000 in Singapore, compared to USD 24,000 in the UK and the US.
Key Trends
Singapore sees uptick in vehicle sales, as a result of growth in ride-hailing companies in the country
The total number of vehicles in Singapore remained nearly stagnant during the pandemic, growing by 1% YoY to 636,000 units in 2020, from 632,000 units in 2019. The growth rate of car unit sales returned to the pre-pandemic level of 2% YoY in 2021, totalling 647,000 units. However, the value of Singapore’s car imports declined by 44% YoY to USD 1 billion in 2020, from USD 2 billion in 2019.
Singapore’s steady growth in the number of vehicles can be mainly attributed to growth in the private hire cars (cabs) industry. Singapore had around 71,000 private hire cars, both self-drive and chauffeured, as a result of the growing ride-hailing market in Singapore. Currently, Singapore’s ride-hailing market is dominated by Grab (after taking over Uber’s Southeast Asia business in 2018) and Indonesia’s Gojek.
Electronic Vehicle (EV) industry an emerging game changer for Singapore’s automotive manufacturing industry
Singapore holds huge potential to become a key market for EV manufacturers for a number of reasons. It is among the top global producers of semiconductors, and hosts centres for excellence and innovation with industry 4.0 capabilities in the semiconductor industry, a key component of EV manufacturing.
Singapore’s proximity and close ties with the world’s largest EV battery manufacturers, in addition to the country’s prominence as a logistics hub, provides easy access for EV companies to secure battery and other components from Singapore’s neighbouring countries. This is further supported by Singapore's business ecosystem, with accommodative policies that present an attractive destination for EV manufacturing, avoiding trade tariffs from China.
Korean car manufacturer Hyundai Motor Company entered Singapore in 2020 with plans to build a SGD 400 million factory plant. The Hyundai Motor Group Innovation Center in Singapore (HMGICS) is expected to be completed in 2022 and will have a production capacity of around 30,000 EVs per annum by 2025.
The factory will be located at Singapore’s Jurong Innovation District, and will utilise industry 4.0 smart capabilities including artificial intelligence (AI), the Internet of Things (IoT), and robotics with highly automated logistics and assembly lines. Hyundai announced that the HMGICS will also be exploring new business concepts, such as battery-as-a-service (BaaS), tapping into the EV customer experience markets.
This comes after the British home appliance company Dyson announced plans to enter the EV manufacturing market with an SGD 3 billion investment in Singapore in 2017, slated to launch by 2020. However, the company announced it was abandoning the project, stating that it is no longer viable.
On the demand side, Singaporeans are among the fastest adopters of EVs, where around five in ten (55%) consumers planned to buy an EV as their next car in 2021, compared to the 41% global average (four in ten). The government has outlined its EV adoption policy in the Singapore Green Plan 2030 (SGP30), in addition to its EV Roadmap, with a target of 60,000 EV charging points by 2030 to ramp up EV adoption. Furthermore, the government is also in the process of progressively deploying electric buses to its public transportation fleet.
Key Statistics
- Singapore’s passenger cars market is estimated to reach around USD 2 billion in 2022
- The market is expected to grow at a CAGR of 4%, from USD 2 billion in 2022 to USD 2.4 billion in 2026
- The largest market segment within the passenger car market is Small SUVs, estimated to reach USD 400 million in 2022
- With an estimated market share of around 23% in 2022, Toyota is projected to become the market leader in the Singaporean passenger car market, in terms of volume.
- BMW is expected to lead the market in terms of sales value in 2022 with a share of around 25% of the market
- The top three trading partners of Singapore’s automotive industry in 2020 were Germany, accounting for 34% (USD 390 million), Japan with 23% market share (USD 263 million) and the UK with a 9% share (USD 97 million)
Top Singapore MNCs in Automotive Companies
YAMAHA MOTOR ASIA PTE LTD
Yamaha Motor Asia Pte Ltd is a subsidiary of Yamaha Motor Company, which was established in Singapore in 1998. It operates as a wholesale and retail distributor of automobiles and automotive parts. Yamaha Motor Asia Pte Ltd has around 294 affiliated companies. In July 1955, Yamaha Motor Company was founded. Headquartered in Japan, the business specializes in motorcycles and outboard motors. It is Toyota's engine supplier. Yamaha Motor Co., Ltd. makes all-terrain vehicles, outboard motors and generators. It is considered the world's second-largest motorcycle manufacturer, with the largest market share of outboard motors, and Yamaha Motor Corporation USA's parent company.
PIRELLI ASIA PTE LTD
Pirelli Asia Pte Ltd, which was established on 21st March 1995, is a Singapore-based wholesale and retail dealer of Pirelli Tyres. It is a subsidiary of Pirelli -u0026 C. S.p.A., which has been headquartered in Italy since 1872. The Pirelli Group is a tyre manufacturer that produces and distributes tyres for both passenger and commercial vehicles, motorcycles, as well as bicycles. Pirelli has businesses affiliated with more than 160 countries. It has 19 manufacturing facilities in 13 countries, as well as a distribution and retail network of over 14,600 distributors and retailers.
HARLEY-DAVIDSON ASIA PACIFIC PTE. LTD.
Harley-Davidson Asia Pacific Pte. Ltd. was incorporated on 15th July 2009, in Singapore. It is a subsidiary of Harley-Davidson, a motorcycle manufacturer based in the United States. Its consolidated operating income during the pandemic in 2020 was recorded as $9.6 million. The company’s services include wholesale and retail distributorship of new and pre-owned motorcycles and electric vehicles, genuine automobile accessories and spare parts. It also offers a range of men’s and women's apparel. Moreover, it provides additional facilities such as test rides, motorcycle financing, motorcycle rental and roadside assistance.
DAIMLER SOUTH EAST ASIA PTE. LTD.
Daimler South East Asia Pte. Ltd was established in 1990 in Singapore. It serves as a regional hub for the Mercedes-Benz Group AG, which is a premium car and commercial vehicles manufacturer headquartered in Germany.
Daimler South East Asia is a global supplier of premium and luxury automobiles and vans. The Singapore office is in charge of the passenger, South Asia and South Pacific region’s business development. In Singapore, the Group has a large IT hub as well as a regional logistics center that supplies the Asia-Pacific region.
AUDI SINGAPORE PTE. LTD.
Audi Singapore Pte. Ltd was incorporated on 2nd October 2008. It operates as a regional headquarters for Audi AG, which is a luxury automobiles manufacturer based in Germany. Audi Singapore is a wholesale and retail dealer of new and pre-owned Audi Sports and Luxury automobiles of all makes and models. The additional services provided by it are vehicle repair and maintenance with genuine Audi spare parts, test drives, car financing and roadside assistance while the purchased vehicle is in warranty.
MCLAREN AUTOMOTIVE ASIA PTE. LTD.
On the 26th of May 2011, McLaren Automotive Asia Pte. Ltd. was formed. It is a subsidiary of McLaren Automotive, in addition to being a retailer and wholesaler of new and pre-owned cars. McLaren Automotive is a British automaker that is said to be known for its high-performance sports cars and supercars, as well as luxury automobiles. Full body parts repair and maintenance using genuine McLaren parts, bespoke services for customers and roadside assistance are among the additional services included with purchase.
BMW ASIA PTE LTD
Singapore-based BMW Asia Pte Ltd,established in 1985, serves as a regional headquarters and oversees the East Asia region, which includes 14 countries. Corporate audit, direct sales and corporate affairs are some of the key functions it carries out. BMW Group IT Service Managements, BMW Group Financial Services, BMW Asia Treasury Centre, as well as the Asia-Pacific regional offices for BMW Motorrad, Rolls-Royce Motor Cars and MINI, are located in the regional office. Market responsibility and management of BMW Group subsidiaries in Indonesia and Singapore, and oversight of all importers in East Asia, are some of its additional responsibilities.
VOLKSWAGEN GROUP SINGAPORE PTE LTD
Volkswagen Group Singapore Pte Ltd (VGS) has conducted automobile retailing and servicing operations directly from Singapore since 4th April 1991. The company offers a range of truck and car models, warranty packages, parts and accessories, as well as technological innovation and automobile services. Both Volkswagen Passenger Cars and Commercial Vehicles, and Das WeltAuto, are part of the company's brands. VGS is a subsidiary of Porsche Holding Salzburg that is owned by the Volkswagen Group, which is headquartered in Germany and among the leading automotive manufacturers in the world.
INCHCAPE MOTORS PRIVATE LIMITED
Inchcape Motors Private Limited is a vertically integrated multi-brand company that distributes and retails automobiles.
In 1967, the Inchcape Group and Borneo Motors Limited merged to form Inchcape Motors Private Limited. Within the first two years of having the Toyota franchise, it sold 3,000 Toyota commercial and passenger vehicles. Toyota Motor Corporation (TMC) presented the company with the 'Triple Crown' Award in 1988 for being No. 1 in passenger car, commercial vehicle and overall vehicle sales in Singapore. Since then, it has concentrated on the automotive industry, launching the Lexus and Hino brands.
WRIGHTBUS INTERNATIONAL PTE. LTD.
Wrightbus International Pte. Ltd. was established on 3rd July 2012 in Singapore. It is a subsidiary and retailer of Wrightbus, a bus manufacturing company that is headquartered in Northern Ireland. Wrightbus is said to have developed the world's first zero-emissions double-deck hydrogen bus. It is not limited to the point of sale of vehicles, but also provides parts support and maintenance services. The UK government invested £11.2 million in Wrightbus in March 2021 to develop low-cost hydrogen fuel cell technology.
Top Singapore Large Local Enterprises in Automotive Companies
JACKSPEED CORPORATION LIMITED
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STAMFORD TYRES CORPORATION LIMITED
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TYE SOON LIMITED
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YHI INTERNATIONAL LIMITED
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Cycle -u0026 Carriage Industries Pte. Limited
Cycle -u0026 Carriage Industries Pte. Limited is a Singapore-based automotive group incorporated in 1899. The company is Southeast Asian retailer, distributor and after sales service provider of new and used vehicles in Myanmar, Singapore and Malaysia. It deals in various passenger car and commercial vehicle brands such as FUSO, Mazda, Mercedes-Benz, Kia, Citroen and Mitsubishi. The company also offers other services, which include corporate leasing, short-term rental and long-term leasing. Cycle -u0026 Carriage is a part of Jardine Cycle -u0026 Carriage Group. It recently received the award for Dealer of the Year 2020.
Wearnes Automotive Pte. Ltd.
Wearnes Automotive Pte. Ltd. is a Singapore-based distributor and retailer of a range of luxury and premium pre-owned automobiles in the Asia-Pacific region. The brands it deals in include Jaguar, Bentley, Bugatti, Volvo, Infiniti, Renault and Land Rover. It provides services that include finance and insurance, road tax, trade-in, test drives, long-term leasing, short-term rental, wedding rental, vehicle pick-up and delivery, car servicing and car maintenance. Established in 1906, the company currently operates in Singapore, China, Vietnam, Malaysia, Thailand, Taiwan and Hong Kong.
VINCAR Pte. Ltd.
Since 1989, VINCAR Pte. Ltd. has been a premier Singaporean multi-brand car dealership and importer of new and used cars, which include both commercial and passenger vehicles. It provides an exclusive VINCAR bespoke car service to customers. The company offers a range of Japanese and Continental brands, such as Tesla, Audi, Porsche, Toyota and Ford. It also provides vehicles for car rentals, in-house car financing and car leasing. VINCAR was listed on the HKEX Mainboard in 2019. It is also considered Singapore's highest-rated parallel importer according to Google and Facebook reviews.
Performance Motors Limited
Since 1979, Performance Motors Limited has been an authorized dealer of brand-new BMW cars and motorcycles in Singapore, as a subsidiary of Sime Darby Motors. It ensures to provide each BMW owner with the finest sales and after sales services possible. Performance Motors is said to have achieved the highest BMW market share in the world in the year 2000. Since its time in business, Performance Motors has received numerous awards, most recently being named the preferred limousine provider for IMDEX Asia 2019, Singapore Convention Week 2019 and Singapore International Energy Week 2019.
TRANS EUROKARS PTE LTD
With its headquarters in Singapore, established in 1985, and operations in Indonesia, Australia and China, Trans Eurokars Pte Ltd deals in autonomous used cars across Asia. The Eurokars Group manages several marques including Porsche, Rolls-Royce, MINI, Mazda, McLaren, MG, Pagani, Maserati, BMW and Ferrari. It also offers leasing services, after sales operations, vehicle repairs maintenance, spray painting, pre-delivery inspection, as well as warehousing of all the brands under the group. Among the awards achieved by Trans Eurokars Pte Ltd. are ‘Best Dealer in 2020’, ‘2020 Aftersales Excellence Award’ and ‘Phantom Dealer of the Year, 2020’.
Performance Premium Selection Limited
Performance Premium Selection Limited, based in Singapore, was founded in 2004. It is an authorized and certified pre-owned BMW vehicle dealer. BMW cars that are less than 5 years old and have a mileage of fewer than 120,000 kilometers are eligible for the BMW Premium Selection program, where vehicles are subjected to a 360-degree vehicle inspection and come with a detailed service history, while BMW Roadside Assistance and a minimum 12-month warranty ensure maximum driving safety and convenience. Trade-in valuations, financing and insurance, test drives, vehicle delivery and after-sales support are some other services offered by the company.
Top Singapore SMEs in Automotive Companies
AVEVAI PTE. LTD.
Headquartered in Singapore, AVEVAI Pte Ltd was founded in 2018 by a group of entrepre neurs with diverse backgrounds in industries such as logistics and distribution, aviation, information technology and automotive. Autonomous Vehicles, Electric Vehicles and Artificial Intelligence form the acronym ‘AVEVAI’. The company is focused on a few key industries including graphene research and development, new energy vehicles, AI machine learning technology, driverless vehicle technology and logistics. The ‘SME100 Awards 2020 – Singapore's Fast-Moving Companies Award’ was recently conferred on AVEVAI Pte Ltd.
FITINPARTS PTE. LTD.
Fitinparts Pte. Limited is an online car parts distribution platform based in Singapore. It was founded in 2015, and has a database on its website with over 50 thousand vehicle models and more than 25,000,000 part offers from thousands of distributors. Fitinparts has two main offices in Singapore and provides delivery services worldwide. Its website FitinPart.sg caters to a variety of spare parts for cars that include suspension parts, clutch systems, hydraulic systems and transmission parts. The company currently has a list of over 300 brands, some of which are Honda, Lexus and Nissan.
Cars -u0026 Stars Pte. Ltd
Established in 2007, Cars -u0026 Stars Pte. Ltd is a grey imports car retailer said to be known for offering the best prices for Tesla, Honda, Mercedes-Benz and Toyota cars.
It offers a range of exotic and luxury car leasing, rental and limousine services through its subsidiary Ace Drive, in addition to new and used car sales. Affiliated company Speed Credit, which was founded in 2000, specializes in new and used car insurance, wholesale and financing.Cars -u0026 Stars Pte. Ltd has been named among Singapore's best car dealerships for providing new and used car packages, prices and after-sales service.
Mindtrac (s) Pte. Ltd.
Mindtrac (s) Pte. Ltd is a Singaporean company founded in 2000. It offers a selection of high-quality tubes, tires, wheels, lubricants, batteries and accessories. By designing a completely new line of products, purchasing and installing equipment, selecting and procuring raw materials, monitoring production and delivering high-quality products to purchasers all over the world, the company has looked to move deeper into the supply chain. In countries where it does business, Mindtrac (s) Pte. Ltd also volunteers for social causes, with its social project ‘Gift of Sight’ providing free cataract surgeries to the elderly and the poor.
PROPEL AUTO PARTS PTE. LTD.
Singapore-based Propel Auto Parts Pte Ltd’s primary business since its inception in the 1980s has been supplying used quality automotive parts for European automobiles. Mercedes-Benz, Citroen, Volvo and Audi are among the brands it specializes in. It also has Malaysian subsidiaries. The company’s services include packing and exporting spares, used cars and accessories, local sales of quality used and imported parts, wholesale purchase of vehicles locally and transfer of vehicle ownership. It provides local door-to-door delivery using both its transportation and local courier services. All of its international shipments are handled by reputed shipping companies such as DHL and DPEX.
FIRST AUTOMOBILE PREMIUM PTE. LTD.
First Automobile Premium Pte. Ltd was established in 2007. It received the BRABUS distributorship in Singapore, among the world's largest tuning brands. To meet demand in the local market, the company specializes in the sale of brand-new middle to high-end Continental cars. Audi, Aston Martin, Bentley, BMW, Lamborghini, Mercedes-Benz, Porsche and Volkswagen are among the manufacturers represented by it. First Automobile Premium is a division of First Automobile Global, a group of companies with extensive experience in the automotive industry and expertise in import/export, new, pre-owned and mechanical support services for vehicles of all makes and models.
PITSTOP TYRES PTE. LTD.
Pitstop Tyres Pte. Ltd, which was established in 2009 in Singapore, provides car maintenance, rim repair and battery replacement services. It fulfills all wheel, tyre and servicing needs. Pitstop Tyres has installed a variety of aftermarket wheels for car owners based on their preferences and vehicle specifications, examples of which are Mandrus Wheels and Redbourne Wheels exclusively for Mercedes-Benz (cars, vans and SUVs) and both Land Rover/Range Rover respectively. TSW Alloy Wheels, Petrol, Black Rhino Wheels and other TSW brands are exclusively distributed in Southeast Asia by Pitstop Tyres Pte Ltd.
HONG SEH MOTORS PTE. LTD.
Hong Seh Motors Pte Ltd. was established in 1982. In 1986, it received the Ferrari distributorship, and subsequently, became a Maserati dealer. Hong Seh Motors is said to have extensive expertise in luxury vehicles, having imported McLaren, Rolls-Royce and Bentley vehicles for royal families. In 2018, it added new models to its lineup, including the Alfa Romeo Giulia and Mercedes-Benz AMG models, and by importing Tesla cars into Singapore, became the frontline of electric vehicles, with the most Tesla cars registered in Singapore, as well as a trained after sales team to troubleshoot Tesla car problems.
CUSTOM BURNER LLP
Since its establishment in 2004, Custom Burner LLP has been restoring vintage and custom motorcycles such as Café Racers, Bobbers and Street Tackers, rebuilding and distributing classic motorcycles, and selling custom accessories from its headquarters in Singapore. It specializes in designing bespoke motorcycles for customers looking for epic two-wheeling adventures. Custom Burner is said to be the only authorized dealer for Ateliers Ruby, which produces motorcycling helmets such as the Ruby, Pavillon and Belvedere. It also manufactures and provides worldwide shipping of t-shirts with the Custom Burner logo.
WUI HONG ENTERPRISES PRIVATE LIMITED
The initial core business of Wui Hong Enterprise Pte Ltd, launched in 1974, comprised marketing, distribution and technical support for Korean and Japanese automotive air-conditioning systems in Singapore for which it is an authorized stockist of spare parts. A member of Wui Holdings Pte. Limited, it has expanded distribution to countries in Europe and Asia, to offer complete automotive workshop services to customers. It provides maintenance and repairs for all makes and models of passenger and commercial vehicles. Their Fleet owners can also take advantage of its fleet maintenance services. Wui Hong Enterprise Pte. Limited received the Asia Excellence Award 2013.
Top Singapore Fastest growing companies in Automotive Industry
Motor-East Pte. Limited
Established in 1996, Motor-East Pte. Limited is a Singapore-based dealer of pre-owned and new cars.
The company imports new cars from Japan, including brands such as Audi, Toyota, Honda, BMW and Mercedes-Benz. It also has a selection of previously owned vehicles, while offering additional services for vehicles, such as car maintenance and grooming, as well as a warranty.
The company deals in solutions like road taxes, car loans and car insurance, and provides a free quote for trade-ins. It offers professional door-to-door services, including home test drives.
Fitinparts Pte. Limited
Fitinparts Pte. Limited is an online car parts distribution platform based in Singapore. It was founded in 2015, and has a database on its website with over 50 thousand vehicle models and more than 25,000,000 part offers from thousands of distributors. Fitinparts has two main offices in Singapore and provides delivery services worldwide. Its website FitinPart.sg caters to a variety of spare parts for cars that include suspension parts, clutch systems, hydraulic systems and transmission parts. The company currently has a list of over 300 brands, some of which are Honda, Lexus and Nissan.
Hong Seh Motors Pte Ltd.
Hong Seh Motors Pte Ltd. was established in 1982. In 1986, it received the Ferrari distributorship, and subsequently, became a Maserati dealer. Hong Seh Motors is said to have extensive expertise in luxury vehicles, having imported McLaren, Rolls-Royce and Bentley vehicles for royal families. In 2018, it added new models to its lineup, including the Alfa Romeo Giulia and Mercedes-Benz AMG models, and by importing Tesla cars into Singapore, became the frontline of electric vehicles, with the most Tesla cars registered in Singapore, as well as a trained after sales team to troubleshoot Tesla car problems.
Quotz Pte. Limited
Quotz Pte. Limited was founded in 2007 and is a subsidiary of sgCarMart. It is said to be Singapore's only online used car auction platform. Car owners are offered the best possible price for their vehicles using the sgCarMart Quotz bidding system, which connects them with over 500 used car dealers. Quotz offers a variety of services, including sell-by-bid, free car valuation and determining whether a vehicle is due for scrap or export. Government agencies such as the National Environment Agency use Quotz Pte. Limited to conduct vehicle auctions.
MS Motorservice Trading (Asia) Pte. Ltd.
MS Motorservice Trading (Asia) Pte. Ltd. is a Singapore-based subsidiary of MS Motorservice International GmbH, Germany. It was established on 1st July 2018. Rheinmetall's worldwide aftermarket activities are sold through the Motorservice Group.
MS Motorservice Trading (Asia) Pte. Ltd is a Southeast Asian aftermarket supplier of engine components such as camshafts, piston rings, valves, valve accessories and vacuum pumps. It works with premium brands like Kolbenschmidt, TRW Engine Components, Pierburg and the BF brand in over 130 countries around the world.
NPR Singapore Pte Ltd
NPR Singapore Pte Ltd is a subsidiary of Nippon Piston Ring Co Ltd, Japan. It was established in March 2005. Piston rings for motorcycles and automobiles, as well as automobile engine parts and valve seat inserts, are among the main products it distributes. It also sells marine and industrial piston rings, metal injection molding parts, compressor parts and medical equipment parts like dental implants. Eagle Automotive Pte. Limited in Singapore and E.A. Associates Sdn. Bhd. in Malaysia were both purchased by NPR Singapore Pte. Limited in 2007.
LVMC Holdings (HM) Singapore Pte. Limited
LVMC Holdings (HM) Singapore Pte. Limited, formerly known as 'Kolao Holdings’, began operations in Singapore in June 2009. It has 60 distributors and 12 subsidiaries worldwide.
LVMC Holdings is involved in a variety of businesses, including the distribution of automobiles and motorcycles from global brands like DAEHAN, KR MOTORS and TERACO. It also deals in after-sales services and spare parts. The company works on independent research and development, manufacturing and overseas exports of its brands. LVMC Holdings also provides used cars trading services and rental services.
Perocom Auto Pte Ltd
Perocom Auto Pte Ltd is considered Singapore’s exclusive distributor for Perodua cars. The company was founded in 2003 and is a subsidiary of J-u0026J Royal (Group) Pte Ltd.
At its outlet in Ubi, it offers sales services for various models of Perodua Cars such as Aruz, Bezza and Myvi. Perocom Auto Pte Ltd has in-house workshops that provide car grooming and repair services. It also deals in spare parts operations for Perodua vehicles. The 2021 arrival of the Perodua Aruz in Singapore marked the first seven-seater offered by Perodua in the island nation.
Hitech Auto Pte. Limited
Hitech Auto Pte. Limited is a Singapore-based company that distributes aftermarket parts for trucks, port terminal tractors, buses and off-highway machines. It was founded in 1999. Its product line includes suspension parts, axle parts, air brake system components, electric system components, and trailer and truck components, all of which it delivers by way of aftermarket parts suppliers and original equipment manufacturers (OEMs). Among these OEMs are well-known brands such as Ottawa Truck, Terberg, Mercedes, Renault, Volvo, Hendrickson and Demag.
Index Credit Pte Ltd
Index Credit Pte Ltd serves as the foundation for Index Group's operations. The company provides car loan/auto-financing and vehicle trading to the market. Established in 1999, it is Singapore-based and deals in both commercial and passenger vehicles. The firm trades in used vehicles, and provides car/vehicle loan packages and other relevant services. Index Credit received the 2010 Successful Entrepreneur Award. A year later, it became a subsidiary of Jackspeed Corporation Ltd, an SGX mainboard-listed company. In 2013 and 2015, the company was awarded the title of sgcarmart.com Premium Dealer.
