Geely Auto seeks Singapore return with sales ambitions to rival BYD
The carmaker is discussing a local agency appointment with automotive groups, with expectations for substantial spending on showrooms and servicing facilities.
Geely Auto is seeking a Singapore agent as it prepares to re-enter the market, with sales ambitions aimed at challenging market leader BYD. The Business Times reported that the Chinese carmaker has been in discussions with major local vehicle distributors and retailers.
People familiar with the discussions said Geely's sales targets would compete with BYD's and that it expects substantial capital spending on facilities, including showrooms and service centres.
Other brands within the wider Geely group already operate in Singapore, but Geely Auto does not. Its vehicle range spans fully electric models, plug-in hybrids, conventional petrol-electric hybrids and petrol-powered cars.
The brand first arrived in Singapore in 2006 through Peter Kwee's Group Exklusiv. It left a few years later after limited sales, as rising Certificate of Entitlement prices reduced demand for budget vehicles. Land Transport Authority figures put its registration peak at 505 cars in 2007, declining to 26 in 2010. No Geely cars have been registered through an authorised dealer since then.
Chinese competitors have expanded their presence in Singapore in recent years, helped by EV rebates and the value of their models. In China, BYD led September vehicle sales with more than 456,700 units, ahead of Geely's 188,800, according to automotive publication CnEVPost.
