Singapore approves Nissan's acquisition of shares in Mitsubishi Motors
With respect to passenger vehicles, none of the Parties’ combined market shares for the Relevant Markets exceeds CCS’s indicative thresholds of a merger situation that may raise competition concerns.
Further, the Parties are not close competitors in the Relevant Markets for passenger vehicles.
With respect to light commercial vehicles, the Parties’ combined market shares [60-70]% and that of the three largest players post-merger [90-100]% in the Relevant Market for pick-up trucks exceeds CCS’s indicative thresholds of a merger situation that may raise concerns.
However, the market share figures may not be a reliable indicator of competition in the market for pick-up trucks as there is considerable degree of volatility in the market shares of both the Parties and their competitors, and there is sufficient competition from other major suppliers of pick-up trucks in Singapore.
Barriers to expansion and entry are not overly high in the Relevant Markets or broader markets in relation to the supply of passenger and light commercial vehicles.
New brands of passenger vehicles have entered Singapore in recent years, and there would be little cost for an existing manufacturer that already supplies passenger vehicles in Singapore to supply light commercial vehicles as the manufacturer can tap on its existing passenger vehicle distribution network. ■