Singapore has one of the wealthiest urban populations in the world which helps it achieve high scores in most international studies carried out every year. This time, Singapore ranked 7th in the 2017 BMI Research’s auto sales index and it was the high lifestyle of its population taking the city-state to this level at a regional level. Foreign investors who want to open a company in Singapore can set up various ventures in the auto industry with the help of our Singapore company formation specialists.
The Auto Sales Risk/Reward Index is one of the most important studies carried out at international level in the auto industry every year. This year, Singapore managed to climb to the 7th place at regional level and on the 41st position at global level out of the 124 countries surveyed.
The “wealthy urbanized population” was the main reason behind Singapore’s ascension this year, according to the BMI Research magazine. This helped a lot companies selling automobiles in Singapore, where the country scored 99.6 points. Singapore’s Gross Domestic Product per capita and the developed infrastructure also contributed to this ranking. When it comes to road infrastructure, Singapore scored 94.3 points.
Singapore scored 59.3 points out the 100 offered by the magazine, a score which was above the 49.1 regional score.
Our company formation agents in Singapore can help you open a company in Singapore in the auto sales business sector.
The infrastructure, the developed auto market and the population inclined to purchase new vehicles are a good combination for Singapore companies selling automobiles.
In the risk category, Singapore scored 84.5 points out the total 100, meaning the country has good regulatory environment. The operating risks incurred by Singapore companies in the auto industry are also low which makes the country very attractive for investors starting businesses in this area.
If want to start a business in the auto industry you can choose to set up a repair shop or a taxi company with the help of our Singapore company formation consultants, so please contact us.