{"id":27293,"date":"2021-03-11T14:43:47","date_gmt":"2021-03-11T12:43:47","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=27293"},"modified":"2021-03-11T14:43:49","modified_gmt":"2021-03-11T12:43:49","slug":"new-vehicle-sales-february-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-february-2021\/","title":{"rendered":"New Vehicle Sales \u2013 February 2021"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

897 New\nvehicles were sold in February, an increase of 28.4% m\/m from the 694 vehicles\nsold in January, and a 11.7% y\/y increase from the 798 sold in February 2020. For\nthe first two months of 2021 1,585 new vehicles have been sold, of which 764\nwere passenger vehicles, 703 light commercial vehicles, and 118 medium and\nheavy commercial vehicles. By comparison, the first two months of 2020 saw\n1,470 new vehicles sold. 2021 is thus off to a slightly better start compared\nto last year. On a twelve-month cumulative basis, a total of 7,729 new vehicles\nwere sold as at February 2021, representing a contraction of 26.0% from the\n10,442 sold over the comparable period a year ago. <\/p>\n\n\n\n

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

A total of 409 new passenger vehicles were sold during\nFebruary, increasing by 15.2% from the 355 passenger vehicles sold in January.\nOn a year-on-year basis, February new passenger vehicle sales 18.2% higher than\nthe 346 vehicles sold a year ago. Year-to-date, passenger vehicle sales rose to\n764, 19.6% higher than during the same period in 2020. On a rolling 12-month\nbasis, passenger vehicle sales rose to 3,338, its highest level since April\n2020. After three consecutive months of increases in this measure, early signs do\nseem to indicate as if the trough has been reached in the new passenger vehicle\nmarket.<\/p>\n\n\n\n

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

A total of 482\nnew commercial vehicles were sold in February, representing an increase of\n42.2% m\/m and 6.6% y\/y. 402 Light commercial vehicles, 13 medium commercial\nvehicles, and 67 heavy and extra heavy commercial vehicles were sold during the\nmonth. Light commercial vehicle sales rose 4.1% y\/y, medium commercial vehicle\nsales dropped 38.1% y\/y and heavy commercial vehicle sales increased by 48.9%\ny\/y. On a twelve-month cumulative basis, light commercial vehicle sales have\ndeclined by 25.5% y\/y, medium commercial vehicles fell by 41.8% y\/y, and heavy\ncommercial vehicles dropped 24.9% y\/y.<\/p>\n\n\n\n

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

Volkswagen enjoys a strong lead in the passenger vehicle\nsales segment with 40.3% of the segment sales year-to-date, followed by Toyota\nwith 21.6% of the market share. The two top brands maintained their large gap\nover the rest of the market with Kia and Mercedes following with 6.0% and 5.5%\nof the market, respectively, leaving the remaining 26.6% of the market to other\nbrands.<\/p>\n\n\n\n

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

On a year-to-date basis, Toyota remained the leader in\nthe light commercial vehicle space with a 51.5% market share, with Nissan in\nsecond place with a 14.9% market share. Ford and Isuzu claimed 12.7% and 6.5%,\nrespectively, of the number of light commercial vehicles sold thus far in 2021.\nHino leads the medium commercial vehicle segment with 27.3% of sales\nyear-to-date, while Scania was number one in the heavy and extra-heavy\ncommercial vehicle segment with 33.3% of the market share year-to-date.<\/p>\n\n\n\n

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

February\u2019s new\nvehicle sales figure of 891 was the highest number since October 2019, when 971\nnew vehicles were sold. The rolling 12-month number of new vehicle sales showed\na small uptick for the second consecutive month to 7,729. The increase in new\ncumulative passenger vehicle sales is especially encouraging as it could\nindicate a slight increase in consumer confidence, although it is still early\ndays. The growth in the last couple of months was likely driven by the extension\nof the payback period on vehicle financing from 54 months to 72 months in\nSeptember 2020. . The growth is however from a very low base and overall\n12-month cumulative sales is still down 66.4% from its peak in April 2015.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

897 New vehicles were sold in February, an increase of 28.4% m\/m from the 694 vehicles sold in January, and a 11.7% y\/y increase from the 798 sold in February 2020. For the first two months of 2021 1,585 new vehicles have been sold, of which 764 were passenger 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-27293","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\/27293","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=27293"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/27293\/revisions"}],"predecessor-version":[{"id":27299,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/27293\/revisions\/27299"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=27293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=27293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=27293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}