{"id":22669,"date":"2019-11-13T14:35:45","date_gmt":"2019-11-13T12:35:45","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=22669"},"modified":"2019-11-13T14:35:47","modified_gmt":"2019-11-13T12:35:47","slug":"new-vehicle-sales-october-2019","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-october-2019\/","title":{"rendered":"New Vehicle Sales \u2013 October 2019"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

A\ntotal of 971 new vehicles were sold in October, representing a 20.5% m\/m increase\nfrom the 806 vehicles sold in September. Year-to-date, 8,812 new vehicles have\nbeen sold of which 3,889 were passenger vehicles, 4,299 were light commercial\nvehicles, and 624 were medium and heavy commercial vehicles. This is the\nhighest number of new vehicles sold recorded over the last four months. On a\ntwelve-month cumulative basis, new vehicle sales continued its downward trend.\n10,739 new vehicles were sold over the last twelve months, a 9.1% contraction\nfrom the previous twelve months.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

355\nnew passenger vehicles were sold in October, an increase of 10.9% m\/m, but\ncontracting by 12.1% y\/y. Year-to-date new passenger vehicle sales rose to 3,889\nunits, down 11.2% when compared to the year-to-date figure recorded in October\n2018. Twelve-month cumulative passenger vehicle sales fell 10.5% y\/y as the\nnumber of passenger vehicles sold continued to decline.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

A\ntotal of 616 new commercial vehicles were sold in October, increasing by 26.7%\nm\/m and 21.3% y\/y. Of the 616 new commercial vehicles sold in October, 536 were\nclassified as light commercial vehicles, 25 as medium commercial vehicles and 55\nas heavy or extra heavy commercial vehicles. 408  heavy vehicles were sold year-to-date, the\nhighest sales figure for the period since October 2016. On a twelve-month\ncumulative basis, light commercial vehicle sales dropped 9.9% y\/y, while medium\ncommercial vehicle sales and heavy commercial vehicles rose 2.1% y\/y and 13.3% y\/y,\nrespectively.  For the sixth consecutive\nmonth, there has been an increase in the sale of heavy commercial vehicles on a\n12 month cumulative year-on-year basis. The steady increase in this category indicates\nimproved demand for durable goods by businesses. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Volkswagen continues to lead the\npassenger vehicle sales segment with 30.4% of the segment sales year-to-date.\nToyota remained in second place with 29.0% of the market-share as at the end of\nOctober. Kia, Mercedes, Hyundai and Ford each command around 5% of the market\nin the passenger vehicles segment, leaving the remaining 20.1% of the market to\nother brands.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Toyota\nretains a strong year-to-date market share of 58.7% and remains the market\nleader in the light commercial vehicle segment. Nissan remains in second\nposition in the segment with 11.8% of the market, while Ford makes up third\nplace with 8.9% of the year-to-date sales. Hino leads the medium commercial\nvehicle segment with 37.5% of sales year-to-date, while Scania was number one\nin the heavy- and extra-heavy commercial vehicle segment with 37.3% of the\nmarket share year-to-date.<\/p>\n\n\n\n

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

Vehicle\nsales remain under pressure, with the year-to-date new vehicle sales in 2019 currently\nbelow 2010 levels, and the total new vehicle sales for the last 12 months down 9.1%\nfrom the same period in 2018. Both new commercial and new passenger vehicle\nsales are at their lowest year-to-date levels since 2009. However there has\nbeen an improvement in the demand for new medium and heavy commercial vehicles in\n2019. Although this improvement has come off a very low base, it suggests that\nthe sectors of the economy that rely on these categories of vehicles may have\nturned the corner. However, we continue to expect business and consumer\nconfidence to remain low and thus expect subdued demand for new vehicles going\nforward.<\/p>\n","protected":false},"excerpt":{"rendered":"

A total of 971 new vehicles were sold in October, representing a 20.5% m\/m increase from the 806 vehicles sold in September. Year-to-date, 8,812 new vehicles have been sold of which 3,889 were passenger vehicles, 4,299 were light commercial vehicles, and 624 were medium and heavy commercial vehicles. This is \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-22669","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\/22669","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=22669"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/22669\/revisions"}],"predecessor-version":[{"id":22675,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/22669\/revisions\/22675"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=22669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=22669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=22669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}