{"id":26490,"date":"2020-12-11T11:13:09","date_gmt":"2020-12-11T09:13:09","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=26490"},"modified":"2020-12-11T11:13:10","modified_gmt":"2020-12-11T09:13:10","slug":"new-vehicle-sales-november-2020","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-november-2020\/","title":{"rendered":"New Vehicle Sales \u2013 November 2020"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

698 new\nvehicles were sold in November, representing a 24.9% m\/m increase from the 559\nvehicles sold in October, but a 20.2% y\/y decline from the 875 new vehicles\nsold in November 2019. Year-to-date 6,913 vehicles have been sold of which\n2,881 were passenger vehicles, 3,554 were light commercial vehicles, and 478\nwere medium and heavy commercial vehicles. On a twelve-month cumulative basis,\na total of 7,627 new vehicles were sold as at 30 November, representing a\ncontraction of 26.8% from the 10,417 sold over the comparable period a year\nago.<\/p>\n\n\n\n

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

A total of 339 new passenger vehicles were sold during\nNovember, an increase of 14.5% m\/m, but a decrease of 2.3% y\/y. Year-to-date\npassenger vehicle sales rose to 2,881, down 32.0% compared to the number of new\npassenger vehicles sold by November last year. On a rolling 12-month basis,\npassenger vehicle sales are down 29.7% y\/y at 3,195 units, the lowest level\nsince April 2004, highlighting the severity of the slowdown in sales.<\/p>\n\n\n\n

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

Commercial\nvehicles sales reflect a similar picture. 359 New commercial vehicles were sold\nin November, representing a 36.5% m\/m increase, but a year-on-year contraction\nof 32.0%. 321 light commercial vehicles, 9 medium commercial vehicles, and 29 heavy\nand extra heavy commercial vehicles were sold during the month. On a\ntwelve-month cumulative basis, light commercial vehicle sales dropped 24.5%\ny\/y, medium commercial vehicle sales fell 29.7% y\/y, and heavy commercial\nvehicle sales contracted by 22.3% y\/y, with all measures remaining on a\ndownward trajectory on an annual basis.<\/p>\n\n\n\n

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

Toyota remains\nthe leader in terms of year-to-date market share of new passenger vehicles sold\nwith 28.9% of the market, followed closely by Volkswagen with 25.6%. The two\ntop brands maintained their large gap over the rest of the market with Kia and\nHyundai following with 6.7% and 5.8% of the market respectively. The only other\nmanufacturer that managed to breach the 5% market share mark was Mercedes-Benz\nwith 5.2% of the market leaving the\nremaining 27.7% of the market to other brands.<\/p>\n\n\n\n

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

Toyota also remains the leader in the light commercial\nvehicle space with a dominant 55.9% market share. Nissan and Ford were the only\nother manufacturers to breach the 10% market share level with 12.7% and 12.2%\nof the market respectively. Mercedes leads the medium commercial vehicle\nsegment with 32.1% of the market. Scania remained number one in the competitive\nheavy and extra-heavy commercial vehicle segment with 22.6% of the market share\nyear-to-date, followed closely by Volvo Trucks and Mercedes with 21.3% and 17.9%\nof the market respectively.<\/p>\n\n\n\n

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

Black Friday\nspecials and the recent introduction of 72-month vehicle loans could likely\nhave been the cause for the month-on-month uptick in new vehicle sales in\nNovember, however the general trend in new vehicle sales remains negative as\nevery sector recorded lower sales than during the same month last year. The\nfact that the 12-month cumulative figure is hovering around levels last seen in\n2005 is a consequence of the recessionary environment we find ourselves in. Eroded\nconsumer and business confidence, coupled with government\u2019s commitment to\nfiscal consolidation as well as a halt in foreign direct investment brought on\nby poor policy guidance means that domestic economic growth (and by extension\nnew vehicle sales) are expected to remain muted for the foreseeable future. <\/p>\n","protected":false},"excerpt":{"rendered":"

698 new vehicles were sold in November, representing a 24.9% m\/m increase from the 559 vehicles sold in October, but a 20.2% y\/y decline from the 875 new vehicles sold in November 2019. Year-to-date 6,913 vehicles have been sold of which 2,881 were passenger vehicles, 3,554 were light commercial vehicles, \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-26490","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\/26490","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=26490"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/26490\/revisions"}],"predecessor-version":[{"id":26496,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/26490\/revisions\/26496"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=26490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=26490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=26490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}