Honda races to top of parallel import sales chart - Q1 08

[Ahyoo2002]

Business Times - 23 Apr 2008

 

Honda races to top of parallel import sales chart

 

By SAMUEL EE

 

PARALLEL imports (PIs) continued to race ahead in the first quarter of this year. And the most popular PI brand is now Honda, not Toyota.

 

Between January and March, the 100 or so PI retailers here sold 5,669 cars, according to the Land Transport Authority. This accounted for 22.9 per cent of the 24,798 new cars registered in Q1 - an increase from 20.9 per cent for the whole of 2007.

 

And where Toyota once ruled the parallel universe, the first three months saw it being overtaken by Honda. Honda PIs notched up 2,491 registrations in Q1, slightly ahead of Toyota's 2,397.

 

The current position of Japan's second-biggest carmaker as the most popular PI make mirrors that of its ranking, for now, among authorised distributors belonging to the Motor Traders Association of Singapore (MTA). In Q1, Honda also upstaged Toyota among MTA members to claim top spot.

 

But there are still three quarters to go in 2008, and the Toyota juggernaut could easily end the year as the best-selling marque in the MTA and PI arenas - just as it has every year since 2002. For now though, Honda is the leader and its Stream compact MPV is the most popular PI model. In Q1, 1,062 units were sold, or almost in every five PI cars. This is no surprise because the Stream also ended 2007 as the top model.

 

The No 2 PI spot in Q1 went to the Toyota Corolla Axio (722 units) and No 3 to the Honda Fit (640), a new generation of the popular small hatchback which is yet to be imported by authorised distributor Kah Motor. The once popular but now ageing Toyota Wish (377 units) ranked fifth position, behind the Honda Airwave (390).

The jump in PI numbers is especially significant in the context of a shrinking overall market. Last year, 106,710 new cars were registered - an 8.8 per cent fall from the all-time high of 117,062 in 2006. This year the industry is not expected to sell more than 98,376 cars because of a reduction in the COE quota.

 

With PI sales surging in a shrinking market, they must be eating into the share of authorised distributors. MTA members sold 18,384 units in Q1 this year. In other words, one PI car was registered for about three MTA cars - a ratio that has been rising steadily in the PIs' favour.

 

In 2007 it was one PI car for roughly four MTA cars. In 2006, it was one for about six.

 

The improvement marks a turnaround for the PI trade from just a few years ago, when it appeared close to collapse. In 2004, the number of PI cars was about 4,000 after the government cracked down on rampant under-declaration, among other things.

 

That figure was a big drop from 2003's 7,500 or so units and at odds with the strong growth of the overall passenger car market, which was riding on an increasing supply of COEs.

 

But the PI business turned around in 2005 - sales rose to 6,282 units before rocketing to 16,137 in 2006. One year later, 2007's 22,304 grey imports set another record.

 

So will 2008 be a boom year for PIs? It could be because of a parallel-imported car's more attractive pricing.

 

But authorised distributors complain that this is due to grey importers' lower OMVs (open market values) and willingness to offer CNG (compressed natural gas) conversions, which reduce the selling price of the new car through a 40 per cent green vehicle rebate.

Edited April 25, 2008 by Ahyoo2002

[Ahyoo2002]

Business Times - 02 Apr 2008

 

 

Honda overtakes Toyota in Q1

 

By SAMUEL EE

 

HONDA has overtaken Toyota to become Singapore's top make. In the first three months of 2008, Honda chalked up registrations of 3,395 passenger cars, eclipsing Toyota's 2,796 units.

 

The numbers are based on sales by members of the Motor Traders Association of Singapore, who are authorised distributors, and do not take into account sales of the same brands by parallel importers.

 

Toyota has been Singapore's favourite marque since 2002. But this is the first time in six consecutive years that another brand has sold more cars than Japan's biggest automaker here. There are nine more months before the year is out, so the outcome for 2008 is far from certain.

 

For one, Toyota has just launched the latest version of its top-selling Corolla Altis. The 1.6-litre sedan, which was launched here last month, has seen a good response from prospective buyers, most of whom have been waiting for it to arrive. As a result, the title of Singapore's top model last year went to Mitsubishi Lancer GLX.

 

Since registration of the new Corolla Altis began only late last month, it means that the Vios sedan was Toyota's top model in Q1 with 1,076 units.

 

Mitsubishi continued to power ahead in the sales stakes in 2008. It became the No 3 make in Singapore with sales of 2,468 units, with the new and more expensive Lancer EX being its top model at 1,128 units.

 

Further down the passenger car rankings were Nissan at No 4 with 1,641 units, and Hyundai at No 5 with 1,470 units. Nissan's most popular model is now the Latio, with 889 units, including the Latio Sport model. This is a more upmarket model than the previously ageing Sunny sedan, which used to be its most popular car.

 

Honda's powerful surge up the sales charts began as early as January and it has been ahead of Toyota each month of the first quarter. This is unusual because Toyota has always been No 1 by a wide margin.

 

At the end of 2007, for example, Borneo Motors Singapore posted sales of 17,121 Toyota passenger cars - almost 29 per cent more than second-placed Kah Motor with 12,205 Hondas.

 

As expected, Honda's best-selling model in Q1 this year was the Civic sedan, with 1,597 units registered, including 152 Civic Hybrid models. Its No 2 model was the Stream compact MPV - also a popular parallel import car - with 823 units.

 

So will Honda continue to dominate the Singapore sales charts?

 

The answer is: only if the Corolla Altis does not resume its previous best- selling performance.

 

Toyota's premier position hinges on the success of this model because it is the core model which brings in the major numbers for the make.

 

At its peak, the Altis was adding a thousand units each month to Borneo Motors' overall tally. Only time will tell if it'll do so again.

[Ahyoo2002]

Interesting fact:

 

1) For the Top 2 car maker, the PI almost sold as many cars as ADs

2) PIs sold 1,062 units Stream vs 823 units Stream by ADs

 

ADs, wake up please

[Booboon]

Damn the ADs, they still dont understand they are in deep trouble.

[Bugsbunny]

 

[Shull]

question:

 

is the min RON level for all JDM spec vehicle 97?

[Route88]

I saw the 2008 FIT backside very chio

I think FIT can boost up sale, Stream already like hotcakes

[Route88]

No la,where got such thing...maybe FD2R

[Guyver]

This is expected ....

 

For Honda ... they have alot of models, Hatchback, Sedan cars, MPVs, Sporty cars, luxury cars, etc.

 

For Toyota now ... no more Hatchbacks, sedan cars, Wish EOL soon, no more sporty cars and luxury cars.

[Tanjkp]

is the min RON level for all JDM spec vehicle 97?

 

Usually Ron 95 can do. Some can go as low as 91 but since 2000 model Jap AD cars specified 95 min except those in Saudi region can use below 95.

 

PI models unknown since the handbook in Jap langg unable to see the no.

Any one know to read Jap pls update.

[Fitvip]

A lot of people are still waiting for the eoivery of their beloved FIT. The PIs cannot cope with the demand. Some wait as long as 6 months! The sales of FIT is definitely HOT!

[Fitvip]

I only saw Regular Unleaded fuel!

[Alvinc_rs]

And I am one of them... have been waiting for my ride since late feb..

seems like still have another 2 mths to go..

[Ahyoo2002]

Damn the ADs, they still dont understand they are in deep trouble.

 

Agree, some of them still yaya papaya and said PI is nothing to them

[Ahyoo2002]

I saw the 2008 FIT backside very chio

I think FIT can boost up sale, Stream already like hotcakes

 

Ya, new fit back side is quite nice and already quite many on the road and yet KM is still selling the old Jazz

[Ahyoo2002]

This is expected ....

 

For Honda ... they have alot of models, Hatchback, Sedan cars, MPVs, Sporty cars, luxury cars, etc.

 

For Toyota now ... no more Hatchbacks, sedan cars, Wish EOL soon, no more sporty cars and luxury cars.

 

I heard new Wish coming soon

[Ahyoo2002]

A lot of people are still waiting for the eoivery of their beloved FIT. The PIs cannot cope with the demand. Some wait as long as 6 months! The sales of FIT is definitely HOT!

 

Hopefully PI is not playing trip on the buyers

[Exowraith]

Most of the ADs seem to not know the market.

 

JDM Accord vs USDM Accord

Wish vs Picnic (Wish looks better)

Stream (KM stopped the Stream before reintroducing it)

Fit vs Jazz (Jazz still old model)

Airwave (Nothing in KM to compare

Axio vs Vios/Altis (Axio looks better than both the new models)

 

JDM my car recommend 97/98

Edited April 27, 2008 by Exowraith