{"id":28319,"date":"2021-06-11T14:32:18","date_gmt":"2021-06-11T12:32:18","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=28319"},"modified":"2021-06-11T14:32:20","modified_gmt":"2021-06-11T12:32:20","slug":"new-vehicle-sales-may-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-may-2021\/","title":{"rendered":"New Vehicle Sales \u2013 May 2021"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

May observed 792 new vehicle sales, an\nincrease of 4.9% m\/m from the 755 vehicles sold in April. As at 31 May, 4,052\nnew vehicles were sold for the year, of which 1,849 were passenger vehicles, 1,887\nlight commercial vehicles, and 316 medium and heavy commercial vehicles. By\ncomparison, the first five months of 2020 saw 2,750 new vehicles sold. On a\ntwelve-month cumulative basis, a total of 8,914 new vehicles were sold as at May\n2021, representing a 1.1% expansion from the 8,820 sold over the comparable\nperiod a year ago, though 22.9% lower than at May 2019. <\/p>\n\n\n\n

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

A total\nof 360 new passenger vehicles were sold during May, a slight uptick of 0.6% from\nthe 358 passenger vehicles sold in April. Year-to-date, passenger vehicle sales\nrose to 1,849, 56.0% higher than during the same period in 2020, but 11.7%\nlower than at May 2019. On a rolling 12-month basis, passenger vehicle sales rose\nto 3,874, 6.0% higher than in May 2020, and 23.2% lower than in May 2019. <\/p>\n\n\n\n

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

A total of 432 new commercial vehicles\nwere sold in May, representing an increase of 8.8% m\/m. 371 Light commercial\nvehicles, 15 medium commercial vehicles, and 46 heavy and extra heavy\ncommercial vehicles were sold during the month. Light commercial vehicle sales rose\n15.2% m\/m, medium commercial vehicle sales posted a second consecutive month of\ndeclines, dropping 25.0% m\/m, and heavy commercial vehicle sales decreased by 16.4%\nm\/m. On a twelve-month cumulative basis, light commercial vehicle sales have\ndeclined by 2.1% y\/y, medium commercial vehicles fell by 30.2% y\/y, and heavy\ncommercial vehicles entered positive territories for the first time since\nApril, last year, increasing by 10.8% y\/y.<\/p>\n\n\n\n

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

Although\nVolkswagen continues to lead in the new passenger vehicle sales segment, its\nmarket share declined from 34.7% last month to 31.2% of sales year-to-date,\nfollowed by Toyota whose market share rose to 25.3% from 24.9% a month ago. Kia\nand Suzuki continued to trail, with 8.7% and 6.2% of the market, respectively, leaving\nthe remaining 18.1% of the market to other brands.<\/p>\n\n\n\n

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

On a year-to-date\nbasis, Toyota continued as the leader in the light commercial vehicle space\nwith a 54.0% market share, Nissan maintained second place with a 13.5% market\nshare. Ford and Isuzu claimed 13.1% and 5.8%, respectively, of the number of\nlight commercial vehicles sold thus far in 2021. Mercedes surpassed Hino as the\nleader in the medium commercial vehicle segment with 33.3% of sales\nyear-to-date. Scania remained number one in the heavy and extra-heavy\ncommercial vehicle segment with 23.8% of the market share year-to-date.<\/p>\n\n\n\n

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

The number of total new vehicle sales has\nticked up every month this year on a year-on-year basis, all but confirming an\nongoing recovery in vehicle sales. This is further evidenced by average monthly\nvehicle sales for 2021 standing at 810, compared to the 634 in 2020.\nFurthermore, the cumulative 12-month new passenger vehicle sales have been on\nthe rise on a month-on-month basis for 6 consecutive months, indicating\nimprovements in consumer confidence. Despite the glimmers of recovery, total\nvehicle sales still lag the pre-Covid-19 era, when an average of 868 sales were\nmade per month in 2019. Interestingly, monthly passenger vehicle sales for 2021\nhave averaged 370, slightly below the average of 380 recorded in 2019. This\nindicates that it is the commercial sector that has been impacted the hardest\nby the pandemic and continues to struggle. This year\u2019s monthly average\ncommercial vehicle sales are 9.6% lower than an already low base of 488 in\n2019, which indicates muted activity in Namibia\u2019s commercial sector, as few new\nbusinesses enter the scene, while existing businesses rely on their existing\nvehicles instead of expanding their fleet.<\/p>\n","protected":false},"excerpt":{"rendered":"

May observed 792 new vehicle sales, an increase of 4.9% m\/m from the 755 vehicles sold in April. As at 31 May, 4,052 new vehicles were sold for the year, of which 1,849 were passenger vehicles, 1,887 light commercial vehicles, and 316 medium and heavy commercial vehicles. By comparison, the \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-28319","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\/28319","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=28319"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/28319\/revisions"}],"predecessor-version":[{"id":28325,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/28319\/revisions\/28325"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=28319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=28319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=28319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}