{"id":28961,"date":"2021-08-12T14:22:30","date_gmt":"2021-08-12T12:22:30","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=28961"},"modified":"2021-08-12T14:22:32","modified_gmt":"2021-08-12T12:22:32","slug":"new-vehicle-sales-july-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-july-2021\/","title":{"rendered":"New Vehicle Sales \u2013 July 2021"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

800 new vehicles were sold in July, a\n5.1% m\/m decrease from the 843 sold in June. This brings the total number of\nvehicle sales in 2021 to 5,693. Despite this monthly drop, over the past 12\nmonths total vehicle sales have grown by 8.9% y\/y to 9,119 with passenger and\nlight commercial vehicles continuing to make up the bulk of the sales. On a\nyear-on-year basis, new vehicle sales rose 19.4% in July.<\/p>\n\n\n\n

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

389 new passenger\nvehicles were sold in July, a 9.5% m\/m decrease from the 430 sold in June. Year-on-year\npassenger vehicle sales increased by 68.4%. Year-to-date passenger vehicle\nsales have increased by 51.5% y\/y, as 1,760 vehicles were sold by this time\nlast July compared to the 2,666 figure this year. Beating 2020\u2019s figures\nshould, and is so far proving, to be an easy task. However, new passenger\nvehicle sales continue to trail the (already low) pre-pandemic levels of 2019.\nOn a 12-month cumulative basis, the number of passenger vehicles sold increased\nby 18.6% y\/y in July. <\/p>\n\n\n\n

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

A total of 411 new\ncommercial vehicles were sold in July, virtually the same number as in June.\nNew commercial vehicle sales have decreased by 6.4% y\/y. 376 light, 13 medium\nand 22 heavy commercial vehicles were sold in this period. While the sale of\nlight commercial vehicles increased by 13.6% from June, the sales of medium and\nheavy commercial vehicles both declined on a month-on-month basis. On a\n12-month cumulative basis, light commercial vehicle sales have increased by 0.4%\ny\/y, medium commercial vehicles fell by 14.9% y\/y, and heavy commercial\nvehicles increased by 28.7% y\/y, although the increase is from a very low base.<\/a><\/p>\n\n\n\n

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

The ongoing two-way battle between for supremacy in the Namibian commercial and passenger vehicle market between Toyota and Volkswagen rolls on. Volkswagen regained top spot in the year-to-date sale of passenger vehicles with 30% of the market share. Toyota\u2019s market share of passenger vehicles over the same period is 28%.\u00a0Kia and Hyundai make up 8.5% and 5.7% of the market respectively.\u00a0\u00a0 <\/a><\/p>\n\n\n\n

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On a\nyear-to-date basis, Toyota remains the preeminent seller of light commercial\nvehicles with a 55% share of the market. This is more than four times the share\nof their nearest competitor, Ford at 13%. Hino and Mercedes each make up 32% of\nthe total medium commercial vehicles sales on a year-to-date basis. The heavy\nand extra heavy commercial vehicle market is the most competitive of the\nvehicle markets, with no one seller amassing more than a quarter of total\nmarket share.<\/p>\n\n\n\n

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

July\u2019s new vehicle sales figures bear no marked difference to June\u2019s. 2021 remains on track to be the second worst year for vehicle sales in the past decade. By this time in 2019, itself a below par year for vehicle sales over the last 10 years, 6,227 new vehicles were sold, in 2021 that number is only 5,693. Naturally this is an improvement on 2020\u2019s sales figures (4,186 total) but as noted earlier, that is not difficult to accomplish. More tellingly, sales figures for new passenger and commercial vehicles are below pre-pandemic averages, showing that both individual and business spending remains depressed. As vehicle sales and most other high-frequency data is indicating, the economic recovery has a long way yet to go. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

800 new vehicles were sold in July, a 5.1% m\/m decrease from the 843 sold in June. This brings the total number of vehicle sales in 2021 to 5,693. Despite this monthly drop, over the past 12 months total vehicle sales have grown by 8.9% y\/y to 9,119 with passenger \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-28961","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\/28961","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=28961"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/28961\/revisions"}],"predecessor-version":[{"id":28967,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/28961\/revisions\/28967"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=28961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=28961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=28961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}