Continental car brands such as BMW and Audi are known for their luxury and performance, and are symbols of prestige and sophistication on Singapore’s roads. Read on to learn more about them!
Continental cars, which primarily refer to vehicles produced by European manufacturers such as the lower price range (S$200,000-500,000) of Audi, BMW, Jaguar, Land Rover, Mercedes-Benz, MINI, Volkswagen, and Volvo; to the higher price range (S$500,000-1 million) of Maserati, and Lotus; and the priciest (>S$1 million) of Aston Martin, Bentley, Ferrari, Lamborghini, McLaren and Rolls-Royce.
These marques have long been considered premium choices in Singapore (and perhaps the rest of the world!). They have seen a significant rise in popularity in Singapore in recent decades due to several factors, including economic growth, changing consumer preferences, and improvements in technology and safety features.
The Horseless Carriage
European car brands have been present in Singapore since the early days of motor vehicles. In fact, the first automobile brought here was from Germany. In 1896, Benz & Co – now known as the household name that is Mercedes-Benz – introduced the ‘Motor Velociped’ or ‘horseless carriage’ to Singapore.
Continental cars were historically associated with wealth and were primarily owned by expatriates or the elite. The high cost of European cars, compounded by regulations such as the COE, meant that Continental cars were out of reach for most consumers. As Singaporean drivers would know, COE costs have always been a significant factor, as they can be as expensive as the car itself. Then, of course, there’s the cost of importing Continental cars – travelling a longer distance than cars from, say, Japan, translates into costlier import fees!
Popularity Contest
In recent years, Continental cars have grown significantly in popularity across all demographic groups, not just among the wealthy elite. Several key factors explain this trend.
Money Talks
With a reputation as one of the world’s wealthiest nations, it is little wonder that more Singaporeans can afford the higher price tags associated with Continental cars. European brands have long been seen as status symbols – there’s nothing quite like showing up in a shiny Ferrari to impress!
Need for Speed (and More)
Continental cars are known for their advanced engineering, and European manufacturers such as BMW and Audi are renowned for their faster speeds, performance-focused engines and superior handling to handle winding roads in Europe. These brands also integrate cutting-edge technology, including driver assistance systems, advanced infotainment options, and premium safety features, making driving these vehicles an enjoyable experience.
Better for Less
The introduction of more affordable Continental cars has also driven their popularity. In recent years, brands like BMW and Mercedes-Benz have released models like the BMW 116i and the Mercedes-Benz A 180 hatchback, offering the prestige of owning a European car at a relatively lower price point. These entry-level vehicles have made continental cars more accessible to younger professionals and those looking for an affordable yet stylish vehicle.
However, buyers need to know that at these price points, it is a trade off for the brands and their performance such as engine capacity and power.
An Expensive Ride
Despite their growing popularity, owning a Continental car in Singapore has challenges. These vehicles are often more expensive to maintain than the Asian counterparts, with higher costs for shipping, repairs, insurance, and fuel consumption, as evident with their high-standard parts.
Furthermore, most Continental car buyers go for their performance, hence more powerful engines, which lead to higher COE costs. Additionally, the registration fee tier for cars with open market values (OMV) exceeding $80,000 is another blow to the wallet.
Drive Continental
Would you want to own a European car, given the higher price tag and COE? If what you want is the appeal of luxury and status, and the superior technology and performance these cars offer, you need to assess your financials to be able to afford one. If you can afford, congratulations on owning an European car of your desire!