{"id":27993,"date":"2021-05-14T14:29:50","date_gmt":"2021-05-14T12:29:50","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=27993"},"modified":"2021-05-14T14:29:51","modified_gmt":"2021-05-14T12:29:51","slug":"new-vehicle-sales-april-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-april-2021\/","title":{"rendered":"New Vehicle Sales \u2013 April 2021"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

755 new vehicles were sold in April, a decrease\nof 17.9% m\/m from the 919 vehicles sold in March. As at 30 April, 3,260 new\nvehicles were sold for the year, of which 1,489 were passenger vehicles, 1,516\nlight commercial vehicles, and 255 medium and heavy commercial vehicles. By\ncomparison, the first four months of 2020 saw 2,270 new vehicles sold. 2021 is\nthus off to a better start compared to last year, although vehicle sales were\nadversely affected by strict lockdown restrictions during April last year. Due\nto car dealerships being closed last year April as a result of the strict\nlockdown measures, year-on-year comparisons are somewhat meaningless. On a\ntwelve-month cumulative basis, a total of 8,601 new vehicles were sold as at April\n2021, representing a contraction of 8.5% from the 9,398 sold over the\ncomparable period a year ago. <\/p>\n\n\n\n

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

A total\nof 358 new passenger vehicles were sold during April, decreasing by 2.2% from\nthe 366 passenger vehicles sold in March. Year-to-date, passenger vehicle sales\nrose to 1,489, 55.8% higher than during the same period in 2020, mostly as a\nresult of the low sales in April 2020. On a rolling 12-month basis, passenger\nvehicle sales rose to 3,743, 5.0% lower than in April 2020. <\/p>\n\n\n\n

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

A total of 397 new commercial vehicles\nwere sold in April, representing a decrease of 28.2% m\/m. 322 Light commercial\nvehicles, 20 medium commercial vehicles, and 55 heavy and extra heavy\ncommercial vehicles were sold during the month. Light commercial vehicle sales fell\n34.4% m\/m, medium commercial vehicle sales dropped 16.7% m\/m and heavy\ncommercial vehicle sales increased by 44.7% m\/m. On a twelve-month cumulative basis,\nlight commercial vehicle sales have declined by 10.0% y\/y, medium commercial\nvehicles fell by 32.8% y\/y, and heavy commercial vehicles dropped 7.7% y\/y.<\/p>\n\n\n\n

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

Volkswagen\ncontinues its dominance in the new passenger vehicle sales segment with 34.7%\nof the segment sales year-to-date, followed by Toyota with 24.9% of the market\nshare. The two top brands maintained their large gap over the rest of the\nmarket with Kia and Suzuki following with 6.9% and 5.3% of the market,\nrespectively, leaving the remaining 28.2% of the market to other brands.<\/p>\n\n\n\n

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

On a\nyear-to-date basis, Toyota continued as the leader in the light commercial\nvehicle space with a 53.4% market share, Nissan maintained second place with a\n13.8% market 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 in the stagnant\nmedium commercial vehicle segment with 26.1% of sales year-to-date, followed by\nMercedes, with 23.9% market share. Scania remained number one in the heavy and\nextra-heavy commercial vehicle segment with 27.6% of the market share\nyear-to-date.<\/p>\n\n\n\n

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

Despite tallying the second lowest total\nvehicle sales thus far in 2021, the 755 total sales are still well above the\nmonthly average of 634 sales in 2020. The cumulative 12-month total vehicle\nsales rose for the fourth consecutive month since December 2020. This seems to\nreflect a gradual recovery in the industry. Although vehicle sales have a minor\nimpact on the overall Namibian economy through its relatively small GDP multiplier,\nit does reflect overall consumer and business confidence. New passenger vehicle\nsales have been rather steady, revolving around its mean of 372 passenger\nvehicle sales per month, slightly below 2019 levels of 380, but well above the 291-monthly\naverage in 2020 (excluding April 2020.) Overall, this reflects a recovery in\nconsumer confidence towards pre-Covid-19 levels. However, on the commercial\nside, uncertainty remains as commercial vehicle sales have been volatile, but\nremains above average levels in 2020, although still lagging pre-Covid-19\nlevels. This indicates a slower recovery rate in optimism in the commercial\nsector compared to consumers.<\/p>\n","protected":false},"excerpt":{"rendered":"

755 new vehicles were sold in April, a decrease of 17.9% m\/m from the 919 vehicles sold in March. As at 30 April, 3,260 new vehicles were sold for the year, of which 1,489 were passenger vehicles, 1,516 light commercial vehicles, and 255 medium and heavy commercial vehicles. By comparison, \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-27993","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\/27993","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=27993"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/27993\/revisions"}],"predecessor-version":[{"id":27999,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/27993\/revisions\/27999"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=27993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=27993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=27993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}