{"id":26756,"date":"2021-01-18T10:55:25","date_gmt":"2021-01-18T08:55:25","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=26756"},"modified":"2021-01-18T16:55:38","modified_gmt":"2021-01-18T14:55:38","slug":"new-vehicle-sales-december-2020","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-december-2020\/","title":{"rendered":"New Vehicle Sales \u2013 December 2020"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

700 New\nvehicles were sold in December, 1 more than the upward revised 699 in November,\nbut a 2.0% y\/y decrease from the 714 new vehicles sold in December 2019. Year-to-date\n7,614 vehicles have been sold, a 26.8% contraction from December last year and\nthe lowest annual vehicle sales figure since 2004. Of the 7,614 new vehicles\nsold during the year, 3,212 were passenger vehicles, 3,869 were light\ncommercial vehicles, and 533 were medium and heavy commercial vehicles. <\/p>\n\n\n\n

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

A total of 330 new passenger vehicles were sold during December, representing a 2.9% m\/m contraction, but a 5.1% y\/y increase. 3,212 passenger vehicles were sold in 2020, a 29.4% decline from 2019 and lower annual sales than the preceding 16 years. Passenger vehicle sales made up 42.2% of the total number of new vehicles sold during 2020 broadly in line with the trend over the last 6 years.<\/p>\n\n\n\n

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

370 new\ncommercial vehicles were sold in December, an increase of 3.1% m\/m, but a 7.5%\ny\/y contraction. During the month 315 light commercial vehicles, 13 medium\ncommercial vehicles, and 42 heavy commercial vehicles were sold. On a\nyear-on-year basis, light commercial sales have declined by 6.0%, medium\ncommercial vehicles fell 38.1% and heavy and extra heavy vehicles sales\ncontracted 4.5%. On a twelve-month cumulative basis, light commercial vehicle\nsales dropped 24.2% y\/y, medium commercial vehicle sales fell 35.3% y\/y and\nheavy commercial vehicle sales contracted by 25.4%.<\/p>\n\n\n\n

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

Toyota lead the market for new passenger vehicle sales in\n2020, claiming 28.6% of the market, followed by Volkswagen with a 25.5% share.\nThey were followed by Kia and Hyundai at 6.8% and 5.8%, respectively. The only other\nmanufacturer that managed to breach the 5% market share mark was Mercedes-Benz\nwith 5.3% of the market, leaving the remaining 27.9% of the market to other\nbrands.<\/p>\n\n\n\n

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

Toyota also remained the leader in the light commercial\nvehicle space in 2020 with 56.0% market share, with Nissan in second place with\na 12.9% market share. Ford and Isuzu claimed 12.3% and 6.7% respectively of the\nnumber of new light commercial vehicles sold for the year. Mercedes lead the\nmedium commercial category with 32.0% of sales while Volvo Trucks was number\none in the heavy and extra-heavy commercial vehicle segment with 21.6% of the\nmarket share during the year.<\/p>\n\n\n\n

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

2020 was a\ndismal year for vehicle sales. The cumulative number of new vehicle sales for\nthe year amounted to 7,614, a decline of 26.8% from the cumulative number of\nvehicles sold in 2019 and a 66.4% contraction from the peak of 22,664 new\nvehicle sales recorded in April 2015 on a cumulative 12-month basis. The\nyear-to-date sales graph at the top of this report shows how severely the new vehicle\nindustry was impacted by the lockdown in April. The recovery since then has\nbeen slow and overall new vehicle sales have still not returned to the already\nlow levels of 2019. The introduction of the longer-dated 72-month vehicle loans\nhas had a small positive impact on new passenger vehicle sales, but not enough\nto offset the damage done by lockdowns. With there being few signs that 2021\nwill see significant economic growth, we expect new vehicle sales to remain\nunder pressure. <\/p>\n","protected":false},"excerpt":{"rendered":"

700 New vehicles were sold in December, 1 more than the upward revised 699 in November, but a 2.0% y\/y decrease from the 714 new vehicles sold in December 2019. Year-to-date 7,614 vehicles have been sold, a 26.8% contraction from December last year and the lowest annual vehicle sales figure \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-26756","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\/26756","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=26756"}],"version-history":[{"count":2,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/26756\/revisions"}],"predecessor-version":[{"id":26773,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/26756\/revisions\/26773"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=26756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=26756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=26756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}