{"id":19303,"date":"2018-12-17T15:14:57","date_gmt":"2018-12-17T13:14:57","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=19303"},"modified":"2018-12-17T15:14:57","modified_gmt":"2018-12-17T13:14:57","slug":"new-vehicle-sales-november-2018","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-november-2018\/","title":{"rendered":"New Vehicle Sales \u2013 November 2018"},"content":{"rendered":"

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A total of 1,185 new vehicles were sold in November, representing a 30.9% m\/m increase from the 905 vehicles sold in October, and a 17.3% y\/y increase from the 1,010 new vehicles sold in November 2017. Year-to-date 11,143 vehicles have been sold of which 4,755 were passenger vehicles, 5,765 light commercial vehicles, and 623 medium and heavy commercial vehicles. On a twelve-month cumulative basis, a total of 11,969 new vehicles were sold as at 30 November 2018, representing a contraction of 9.9% from the 13,279 sold over the comparable period a year ago.<\/p>\n

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A total of 394 new passenger vehicles were sold during November, a decrease of 1.3% m\/m and 1.0% y\/y from the 398 passenger vehicles sold in November 2017. Year-to-date passenger vehicle sales amounted to 4,755, down 7.7% compared to the number of new passenger vehicles sold by November last year. The rolling 12-month vehicles sales figures continue to reflect weakness in the number of passenger vehicles sold, declining 8.1% y\/y as at November 2018.<\/p>\n

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791 New commercial vehicles were sold in November, representing a 56.3% m\/m and 29.2% y\/y increase. 716 light commercial vehicles, 20 medium commercial vehicles, and 55 heavy commercial vehicles were sold during the month. On a year-on-year basis, light commercial sales rose by 33.1%, medium commercial sales decreased 20.0% and heavy and extra heavy sales rose by 12.2%. On a twelve-month cumulative basis, light commercial vehicle sales dropped 12.4% y\/y, while medium commercial vehicle sales rose 1.7% y\/y, and heavy commercial vehicle sales rose 1.9% y\/y.<\/p>\n

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Toyota continues to lead the market for new passenger vehicle sales in 2018 based on the number of new vehicles sold, claiming 33.8% of the market, followed by Volkswagen with a 28.6% share. They were followed by Hyundai and Kia at 5.7% and 4.9%, while the rest of the passenger vehicle market was shared by several other competitors.<\/p>\n

Toyota also remained the leader in the light commercial vehicle space with 56.1% market share, with Nissan in second place with a 19.5% share. Ford and Isuzu claimed 8.0% and 4.9% respectively of the number of new light commercial vehicles sold for the year. Hino leads the medium commercial vehicle category with 40.9% of sales while Scania remains number one in the heavy and extra-heavy commercial vehicle segment with 35.6% of the market share year-to-date.<\/p>\n

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The Bottom Line<\/strong><\/p>\n

The cumulative number of new vehicle sales continued to contract on a 12-month basis, amounting to 11,143 at the end of November. Year-on-year, the 12-month cumulative number of new vehicles sold has contracted by 9.9% from the 11,969 cumulative sales recorded in November 2017. The prospects for new vehicle sales remain dim in the short- to medium-term as government remains committed to fiscal consolidation. Instalment credit, which is mainly used to finance vehicle purchases, continues its contracting trend, declining by 6.9% y\/y at the end of October, a further indication that new vehicle sales are likely to remain subdued going forward.<\/p>\n","protected":false},"excerpt":{"rendered":"

A total of 1,185 new vehicles were sold in November, representing a 30.9% m\/m increase from the 905 vehicles sold in October, and a 17.3% y\/y increase from the 1,010 new vehicles sold in November 2017. Year-to-date 11,143 vehicles have been sold of which 4,755 were passenger vehicles, 5,765 light \u2026 Continue reading → <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,20],"tags":[],"class_list":["post-19303","post","type-post","status-publish","format-standard","hentry","category-economicresearch","category-vehiclesales"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/19303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/comments?post=19303"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/19303\/revisions"}],"predecessor-version":[{"id":19309,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/19303\/revisions\/19309"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=19303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=19303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=19303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}