{"id":27636,"date":"2021-04-13T16:38:19","date_gmt":"2021-04-13T14:38:19","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=27636"},"modified":"2021-04-13T16:38:20","modified_gmt":"2021-04-13T14:38:20","slug":"new-vehicle-sales-march-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-march-2021\/","title":{"rendered":"New Vehicle Sales \u2013 March 2021"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

908 New vehicles were sold in March, an\nincrease of 1.68% m\/m from the 893 vehicles sold in February, and a 20.3% y\/y\nincrease from the 755 sold in March 2020. For the first three months of 2021 2,494\nnew vehicles have been sold, of which 1,122 were passenger vehicles, 1,192\nlight commercial vehicles, and 180 medium and heavy commercial vehicles. By\ncomparison, the first three months of 2020 saw 2,221 new vehicles sold. 2021 is\nthus off to a slightly better start compared to last year. On a twelve-month\ncumulative basis, a total of 7,885 new vehicles were sold as at March 2021,\nrepresenting a contraction of 23.3% from the 10,277 sold over the comparable\nperiod a year ago. <\/p>\n\n\n\n

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

A total\nof 357 new passenger vehicles were sold during March, decreasing by 13.1% from\nthe 411 passenger vehicles sold in February. On a year-on-year basis, March new\npassenger vehicle sales were 13.7% higher than the 314 vehicles sold a year\nago. Year-to-date, passenger vehicle sales rose to 1,122, 18.4% higher than\nduring the same period in 2020. On a rolling 12-month basis, passenger vehicle\nsales rose to 3,384. This translates into four consecutive months of increases\nin this measure.<\/p>\n\n\n\n

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

A total of 551 new commercial vehicles\nwere sold in March, representing an increase of 14.3% m\/m and 24.9% y\/y. 489\nLight commercial vehicles, 24 medium commercial vehicles, and 38 heavy and\nextra heavy commercial vehicles were sold during the month. Light commercial\nvehicle sales rose 25.7% y\/y, medium commercial vehicle sales climbed 4.3% y\/y\nand heavy commercial vehicle sales increased by 31.0% y\/y. On a twelve-month cumulative\nbasis, light commercial vehicle sales have declined by 22.2% y\/y, medium\ncommercial vehicles fell by 42.7% y\/y, and heavy commercial vehicles dropped 25.0%\ny\/y.<\/p>\n\n\n\n

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

Volkswagen\ncontinues its strong lead in the passenger vehicle sales segment with 34.9% of\nthe segment sales year-to-date, followed by Toyota with 25.1% of the market\nshare. The two top brands maintained their large gap over the rest of the\nmarket with Kia and Mercedes following with 7.0% and 5.1% of the market,\nrespectively, leaving the remaining 27.9% of the market to other brands.<\/p>\n\n\n\n

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

On a\nyear-to-date basis, Toyota remained the leader in the light commercial vehicle\nspace with a 53.5% market share, with Nissan in second place with a 13.8%\nmarket share. Ford and Isuzu claimed 12.0% and 6.7%, respectively, of the\nnumber of light commercial vehicles sold thus far in 2021. Hino leads the\nmedium commercial vehicle segment with 26.1% of sales year-to-date, while\nScania was number one in the heavy and extra-heavy commercial vehicle segment\nwith 27.6% of the market share year-to-date.<\/p>\n\n\n\n

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

March wrapped up the first quarter of\n2021 with 908 new vehicles sold, the highest monthly sales figure since October\n2019, when 976 new vehicle sales were sold. Total sales for the quarter were\n2,494, making it the strongest quarter since the fourth quarter of 2019, when\n2,567 new vehicles were sold. This is a positive sign, as vehicle sales\ncontinue to recover to pre-Covid-19 levels, which could indicate somewhat increased\nlevels of consumer confidence. The rolling 12-month number of new vehicle sales\nrose for a third consecutive month to 7,885. The growth is however from a very\nlow base and overall, 12-month cumulative sales is still down 65.2% from its\npeak in April 2015.<\/p>\n","protected":false},"excerpt":{"rendered":"

908 New vehicles were sold in March, an increase of 1.68% m\/m from the 893 vehicles sold in February, and a 20.3% y\/y increase from the 755 sold in March 2020. For the first three months of 2021 2,494 new vehicles have been sold, of which 1,122 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-27636","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\/27636","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=27636"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/27636\/revisions"}],"predecessor-version":[{"id":27642,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/27636\/revisions\/27642"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=27636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=27636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=27636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}