Luxury car sales in Singapore have experienced a dramatic downturn in the wake of a recent money-laundering scandal, according to a report released on March 24, 2025, by Paul O’Donoghue, Senior Correspondent for AML Intelligence. The introduction of stricter due diligence checks and higher taxes has created a chilling effect on the market.
Sales of high-end brands, including Bentley, Ferrari, Jaguar, and Rolls-Royce, saw a significant nosedive in 2024, with figures falling by as much as 75% compared to the previous year, the report indicates. This dramatic decline follows police seizures of numerous luxury vehicles believed to be linked to the ongoing investigation.
