{"id":24690,"date":"2020-06-11T16:33:33","date_gmt":"2020-06-11T14:33:33","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=24690"},"modified":"2020-06-12T10:05:07","modified_gmt":"2020-06-12T08:05:07","slug":"new-vehicle-sales-may-2020","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-may-2020\/","title":{"rendered":"New Vehicle Sales \u2013 May 2020"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

A total of 470 new vehicles were sold in May, an 840.0% m\/m increase from the 50 vehicles sold in April, but a 55.5% y\/y decrease from the 1,055 vehicles sold in May 2019. Year-to-date 2,749 vehicles have been sold, of which 1,184 were passenger vehicles, 1,380 were light commercial vehicles, and 185 were medium and heavy commercial vehicles. On a twelve-month cumulative basis, new vehicle sales continued to decline with a total of 8,804 new vehicles sold as at May 2020, down 23.8% from the 11,559 sold over the comparable period a year ago.<\/p>\n\n\n\n

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

219 New\npassenger vehicles were sold during May, increasing by 2,333.3% m\/m. The\nmonthly comparison is somewhat meaningless seeing that only 9 new passenger\nvehicles were sold in April due to the lockdown restricting dealerships from\nselling vehicles. On a year-on-year basis May new passenger vehicle sales were 57.2%\nlower than the 512 vehicles sold a year ago. Year-to-date passenger vehicle\nsales rose to 1,184, a 43.5% decrease from May last year. On a rolling 12-month\nbasis new passenger vehicle sales were down 63.0% from the peak in April 2015,\nand down 27.9% y\/y.<\/p>\n\n\n\n

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

A total of 251\nnew commercial vehicles were sold in May, 512.2% more than in April, but 53.8%\nless than in May 2019. Of the 251 commercial vehicles sold in May, 231 were\nclassified as light commercial vehicles, 10 as medium commercial vehicles and\n10 as heavy or extra heavy commercial vehicles. On a twelve-month cumulative\nbasis light commercial vehicle sales dropped 23.3% y\/y, while medium commercial\nvehicle sales rose 16.8% y\/y, and heavy commercial vehicle sales fell by 5.9%\ny\/y.<\/p>\n\n\n\n

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

During the\nmonth, Volkswagen retook the lead from Toyota in terms of year-to-date market\nshare of new passenger vehicles sold. Volkswagen claimed 30.2% of the market,\nfollowed closely by Toyota with 29.8% of the market. They were followed by Kia\nand Hyundai with 6.9% and 5.8% of the market respectively, while the rest of\nthe passenger vehicle market was shared by several other competitors.<\/p>\n\n\n\n

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

Toyota remained\nthe leader in the light commercial vehicle space with a robust 57.5% market\nshare, with Nissan in second place with a 14.8% share. Ford and Isuzu claimed\n9.8% and 6.3%, respectively, of the number of light commercial vehicles sold\nthus far in 2020. Mercedes leads the medium commercial vehicle segment with 31.4%\nof sales year-to-date. Mercedes was also number one in the heavy and\nextra-heavy commercial vehicle segment with 22.6% of the market share\nyear-to-date.<\/p>\n\n\n\n

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

While May\u2019s\nvehicle sales figure of 470 is considerably higher than that of April\u2019s 50\nvehicles, the number of new vehicles sold fell to roughly halve of the number\nsold a year ago or a quarter of what was sold five years ago. It remains\nunlikely that new vehicle sales will return to the levels seen in recent months\nand years as economic conditions are expected to remain dire. The fact that the\nErongo region was placed under a further lockdown will continue to weigh down on\nvehicle sales in June. Furthermore, the revenues of most businesses in the\ncountry will be depressed due to the government imposed lockdowns and as a\nresult will not be able to expand\/replace their existing vehicle fleets. The\ntourism sector continues to be affected by the lockdown of the country\u2019s\nborders is currently sitting with an oversupply of vehicles and will thus not\nbe needing new vehicles in the short- to medium term. During the month the\ngovernment too announced that they will not be renewing their vehicle fleet for\nthe next five years. For the most part we expect consumers who haven\u2019t lost\ntheir jobs or been forced to take a pay cut, and who can still afford to buy\nvehicles, to either be more prudent with their finances and defer vehicle purchases\nor to opt for second-hand models while the current economic uncertainty remains.<\/p>\n","protected":false},"excerpt":{"rendered":"

A total of 470 new vehicles were sold in May, an 840.0% m\/m increase from the 50 vehicles sold in April, but a 55.5% y\/y decrease from the 1,055 vehicles sold in May 2019. Year-to-date 2,749 vehicles have been sold, of which 1,184 were passenger vehicles, 1,380 were light commercial \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-24690","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\/24690","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=24690"}],"version-history":[{"count":2,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/24690\/revisions"}],"predecessor-version":[{"id":24707,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/24690\/revisions\/24707"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=24690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=24690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=24690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}