Vehicle Registrations

December 2017


Released on 23 March 2018 | Download the complete release | pdfIcon 145 KB


  Dec 17 Nov 17
Oct 17
Sep 17

New Registrations
416 274 329 311

Registrations rose over the month

 New vehicles registered in December 2017 markedly increased by 51.8% from a total of 274 registrations recorded last month. All categories rose except for the registration of government vehicles. The registration of light vehicles increased the most by 73 (77.7%), followed by a rise in heavy vehicles, cars and also taxis and rentals by 28 (155.6%), 24 (18.6%) and 17 (60.7%) respectively. There was no government vehicle registered during the month.

 The high registration of vehicles reflects the usual trend recorded in December of every year. The total banks’ outstanding loans for vehicles increased by $0.02 million (0.4%) to $6.3 million which contributed to the monthly rise in the vehicle registrations. This coincided with a $0.1 million (12.9%) rise in vehicle import payments over December 2017. The high level of remittances during this period may have contributed to an increase in consumer spending including the purchasing of vehicles. The economic activities in the tourism, services and retail sectors may have strengthened as locals now have easy and more access to transportation. The celebration of holidays and Christmas season also supported higher demand for vehicles over the month. Additionally, according to liaison with the car dealers, they had increased the import of vehicles in order to maintain the available stocks for their customers during this festive period.

Over the year to December 2017, the total number of vehicles registered rose by 298 (8.6%) reflecting the continued strong demand for vehicles. Majority of the annual rise were for light vehicles which rose by 116 (9.0%) followed by an increase in registration of cars and taxis & rentals vehicle by 77 (5.3%) and 55 (19.4%) respectively. The annual rise coincided with the $1.3 million (7.4%) increase in import payments for vehicles recorded in the Overseas Exchange Transactions reports. Moreover, an increase in the purchasing power of the returning Recognised Seasonal Employees (RSE) may have also contributed to the annual rise. The annual increase in the level of vehicle registrations can also be attributed to the availability of hire purchase options for consumers wishing to buy vehicles, and the convenience of purchasing vehicles online.

On the outlook, the total vehicle registrations are projected to increase in the near term despite the progressive increase in petrol prices. This is supported by higher purchasing power of returning Recognised Seasonal Employees from Australia and New Zealand. In addition, the preference for second hand cars ordered online from Japan by locals is expected to remain high as the price is cheaper and therefore, more vehicles would be imported in the future.


Vehicle Registrations Releases

Vehicle Registrations Releases for 2017


pdfIcon November
Released on 20 March 2018 | 145 KB
   

pdfIcon October
Released on 16 January 2018 | 261 KB
pdfIcon September
Released on 8 December 2017 | 130 KB

pdfIcon August
Released on 14 November 2017 | 148 KB
pdfIcon July
Released on 17 October 2017 | 292 KB

pdfIcon June
Released on 1 September 2017 | 137 KB
pdfIcon May
Released on 3 August 2017 | 153 KB

pdfIcon April
Released on 30 June 2017 | 150 KB
pdfIcon March
Released on 14 June 2017 | 149 KB

pdfIcon February
Released on 14 June 2017 | 149 KB
pdfIcon January
Released on 14 June 2017 | 151 KB

2016


pdfIcon December
Released on 9 June 2017 | 137 KB
pdfIcon November
Released on 19 May 2017 | 156 KB

pdfIcon October
Released on 23 March 2017 | 209 KB
pdfIcon September
Released on 9 January 2017 | 347 KB

pdfIcon August
Released on 31 October 2016 | 340 KB
pdfIcon July
Released on 31 October 2016 | 343 KB

pdfIcon June
Released on 5 September 2016 | 156 KB
pdfIcon May
Released on 28 July 2016 | 155 KB

pdfIcon April
Released on 29 June 2016 | 150 KB
pdfIcon March
Released on 3 June 2016 | 445 KB

pdfIcon February
Released on 3 June 2016 | 445 KB
pdfIcon January
Released on 8 April 2016 | 200 KB

2015


pdfIcon December
Released on 8 April 2016 | 201 KB
pdfIcon November
Released on 4 January 2016 | 397 KB

pdfIcon October
Released on 23 December 2015 | 171 KB
pdfIcon September
Released on 2 December 2015 | 407 KB

pdfIcon August
Released on 7 October 2015 | 399 KB
pdfIcon June
Released on 5 August 2015 | 438 KB

pdfIcon May
Released on 31 July 2016 | 448 KB
pdfIcon April
Released on 12 June 2015 | 450 KB

pdfIcon March
Released on 8 May 2015 | 452 KB
pdfIcon February
Released on 9 April 2015 | 453 KB

pdfIcon January
Released on 5 March 2015 | 186 KB
   

2014


pdfIcon December
Released on 6 February 2015 | 188 KB
pdfIcon November
Released on 13 January 2015 | 175 KB

pdfIcon October
Released on 17 December 2014 | 202 KB
pdfIcon September
Released on 11 November 2014 | 281 KB

pdfIcon August
Released on 9 October 2014 | 189 KB
pdfIcon July
Released on 15 August 2014 | 199 KB

pdfIcon June
Released on 8 July 2014 | 278 KB
pdfIcon May
Released on 27 June 2014 | 281 KB

You are here: Home ECONOMIC RELEASES Vehicle Registrations