{"id":27008,"date":"2021-02-15T12:52:06","date_gmt":"2021-02-15T10:52:06","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=27008"},"modified":"2021-02-15T12:52:08","modified_gmt":"2021-02-15T10:52:08","slug":"new-vehicle-sales-january-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-january-2021\/","title":{"rendered":"New Vehicle Sales \u2013 January 2021"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

A total of 694\nnew vehicles were sold in January, which is 6 cars fewer than were sold in\nDecember, but represents a 3.3% y\/y increase from the 672 new vehicles sold in\nJanuary 2020. On a twelve-month cumulative basis, a total of 7,636 new vehicles\nwere sold up to the end of January 2021, representing a contraction of 26.5%\nfrom the 10,395 new vehicles sold over the same 12 month period a year ago. 2021\nis thus off to a slightly better start than January 2020, however, new vehicle\nsales remain sluggish.<\/p>\n\n\n\n

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

355 new passenger vehicles were sold during January, an\nincrease of 7.6% m\/m from the 330 passenger vehicles sold in December, and 21.6%\nhigher y\/y from the 292 new passenger vehicles sold in January 2020. On a\nrolling 12-month basis, new passenger vehicle sales rose 2.0% m\/m, but are down\n27.2% y\/y at the end of January. 12-month cumulative passenger vehicle sales\nwere down 66.7% from the peak in April 2015.<\/p>\n\n\n\n

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

Commercial\nvehicle sales declined to 339 units in January, representing a contraction of\n8.4% m\/m and 10.8% y\/y. During the month 301 light commercial vehicles, 9\nmedium commercial vehicles, and 29 heavy commercial vehicles were sold. On a\nyear-on-year basis, light commercial sales fell by 10.1% y\/y, medium commercial\nvehicle dropped by 35.7% y\/y, and heavy and extra heavy vehicle sales declined by\n6.5% y\/y. On a twelve-month cumulative basis, light commercial vehicle sales contracted\nby 25.3% y\/y, medium commercial vehicles declined by 37.2% y\/y and heavy\ncommercial vehicle sales fell by 27.3% y\/y.<\/p>\n\n\n\n

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

Volkswagen started the year off on a strong foot with a 41.4%\nmarket share of new passenger vehicles sold, followed by Toyota with a 25.1%\nmarket share. They were followed by Kia and Mercedes who each had a 6.5% market\nshare, while the rest of the passenger vehicle market was shared by several\nother competitors.<\/p>\n\n\n\n

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

Toyota meanwhile started the year off with a solid grip\non the light commercial vehicle market with a 55.1% market share, with Nissan\nin second place with a 13.3% market share. Ford and Volkswagen claimed 11.3%\nand 5.0% of the number of new light commercial vehicles sold during the month,\nrespectively. Iveco led the medium commercial vehicle category with 33.3% of\nsales, while Scania was number one in the heavy and extra-heavy commercial\nvehicle segment with 27.6% of the market share during the month.<\/p>\n\n\n\n

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

New passenger\nvehicle sales started the year off stronger than in 2020, with passenger\nvehicle sales increasing by 21.6% y\/y. This uptick in sales did not pass\nthrough to commercial vehicle sales which had a poor start and contracted by\n10.8% y\/y. While new vehicle sales in January were higher than the first month\nof the past two years, it remains considerably lower than the numbers recorded between\n2012 and 2016. The likelihood of a recovery in 2021 to the levels witnessed\nduring that period seems very low currently. We expect businesses to hold on to\ntheir current fleets for as long as possible and for consumers to mostly stick\nto the pre-owned market, seeing that there are very few economic growth\nprospects at present.<\/p>\n","protected":false},"excerpt":{"rendered":"

A total of 694 new vehicles were sold in January, which is 6 cars fewer than were sold in December, but represents a 3.3% y\/y increase from the 672 new vehicles sold in January 2020. On a twelve-month cumulative basis, a total of 7,636 new vehicles were sold up to \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-27008","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\/27008","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=27008"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/27008\/revisions"}],"predecessor-version":[{"id":27014,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/27008\/revisions\/27014"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=27008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=27008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=27008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}