{"id":29268,"date":"2021-09-10T12:11:19","date_gmt":"2021-09-10T10:11:19","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=29268"},"modified":"2021-09-10T12:11:21","modified_gmt":"2021-09-10T10:11:21","slug":"new-vehicle-sales-august-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-august-2021\/","title":{"rendered":"New Vehicle Sales \u2013 August 2021"},"content":{"rendered":"\n
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In August 764 new vehicles were sold, a 4.5% m\/m decrease from the 800 sold in July, bringing the total number of vehicle sales in 2021 to 6,457. Total new vehicle sales have declined for the second month running. On a 12-month cumulative basis, vehicle sales have grown by 14.1% y\/y to 9,296. However, it is the historically low base of 2020\u2019s new vehicle sales, rather than exceptional sales growth in 2021, that explains the relatively high \u00a012-month cumulative sales increase. On a year-on-year basis, new vehicle sales rose 30.4% in August. All told, 2021 remains on track to be the second worst year for new vehicle sales in the past decade. <\/p>\n\n\n\n

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340 new\npassenger vehicles were sold in August, a 12.6% m\/m decrease from the 389 sold\nin July. Year-on-year passenger vehicle sales increased by 70.9%. Year-to-date\nvehicle sales have increased by 53.4%. On a 12-month cumulative basis, the\nnumber of passenger vehicles sold increased by 28.8% in August to 4,257. However,\nthe equivalent 2019 figure is 4,678, meaning that while new passenger vehicle\nsales have ticked up from 2020 lows, the 2019 benchmark is yet to be reached. <\/p>\n\n\n\n

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Commercial vehicle sales increased by 3.2% m\/m to 424 in August. New commercial vehicle sales increased by 9.3% y\/y. 354 light and 16 medium commercial vehicles were sold in August, a 5.9% m\/m decrease and 23.1% m\/m increase respectively. 54 heavy commercial vehicles were sold, more than double the amount sold in July. On a 12-month cumulative basis, light commercial vehicle sales increased by 2.8% y\/y, medium commercial vehicles fell by 15.2% y\/y, and heavy commercial vehicles increased by 27.7% y\/y. <\/p>\n\n\n\n

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Volkswagen\nand Toyota now have an all but equal split of the market for passenger vehicles\nin 2021, with Volkswagen taking 29% and Toyota 28%. Kia solidified its position\nas the next largest player in the market, marginally upping its share to 9%.\nHyundai and Suzuki round off the top 5 with 6% and 5% passenger vehicle market\nshare respectively. <\/p>\n\n\n\n

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On a\nyear-to-date basis, Toyota remains the biggest seller of light commercial\nvehicles with a 55% share of the market. Ford comes in second at 13%. Mercedes\nhas taken 33% of the market for medium commercial vehicles, followed closely by\nHino with 31%. The heavy and extra heavy commercial vehicle market is the most\ncompetitive of the vehicle markets. Scania currently has a 22% market share and\nVolvo has 19%. <\/p>\n\n\n\n

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

August was another sluggish month for vehicle sales in Namibia. Despite a marginal increase in the number of commercial vehicles sold compared to June and July\u2019s figures, a dip in passenger vehicle sales cancelled out any overall vehicle sales gains that might have been made. Global automotive production remains under significant strain as variable demand and a well-documented shortage of semiconductors slow production. The extent to which these supplier-facing costs are passed down to the Namibian consumer is an open question. So long as the automotive market remains sufficiently competitive prices of new vehicles should not increase drastically. <\/p>\n","protected":false},"excerpt":{"rendered":"

In August 764 new vehicles were sold, a 4.5% m\/m decrease from the 800 sold in July, bringing the total number of vehicle sales in 2021 to 6,457. Total new vehicle sales have declined for the second month running. On a 12-month cumulative basis, vehicle sales have grown by 14.1% \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-29268","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\/29268","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=29268"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/29268\/revisions"}],"predecessor-version":[{"id":29274,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/29268\/revisions\/29274"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=29268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=29268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=29268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}