{"id":29644,"date":"2021-10-15T15:32:46","date_gmt":"2021-10-15T13:32:46","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=29644"},"modified":"2021-10-15T15:32:48","modified_gmt":"2021-10-15T13:32:48","slug":"new-vehicle-sales-september-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-september-2021\/","title":{"rendered":"New Vehicle Sales \u2013 September 2021"},"content":{"rendered":"\n
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767 new vehicles were sold in September, a near identical number to the 762 sold in August. This brings the total number of new vehicle sales in 2021 to 7,221. On a year-on-year basis, new vehicle sales declined by 12.2%. On a 12-month cumulative basis, vehicle sales have grown by 11.8% to 9,186. September is usually a better month for new vehicle purchases. In fact, 767 represents the smallest number of new cars sold in the month of September over the past decade, lower even than 2020\u2019s September figure. As such, 2021 remains on track to be the second worst year for car sales in the past decade. <\/p>\n\n\n\n

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380 new\npassenger vehicles were sold in September, a 12.4% increase from the 338 sold\nin August and a 36.7% increase from this time last year. Year-to-date, the sale\nof new passenger vehicles increased by 51.2% y\/y. On a 12-month cumulative\nbasis, sales have increased by 33.6% y\/y to 4,356. There is a distinct upward\ntrend in the 12-month cumulative sales figures as it starts to shed the\nhistorically low sales numbers from 2020. If this modest upward trend continues\nthere is a good chance that we will see 12-month cumulative sales figure reach\nlate 2019 values by the end of 2021.<\/p>\n\n\n\n

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Total commercial\nvehicle sales fell by 8.7% m\/m and 35.1% y\/y in September. The biggest decline\ncame in the light commercial vehicles category with sales falling by 14.1% m\/m\nand 43.4% y\/y to 304, the lowest monthly sales figure for the year. 16 medium commercial\nvehicles were sold in September, a 6.7% y\/y increase but identical to the\nprevious month\u2019s figure. Lastly, 67 heavy commercial vehicles were sold, a\n24.1% m\/m increase and 52.3% y\/y increase. On a 12-month cumulative basis,\nlight commercial vehicle sales decrease by 5.7% y\/y and medium commercial\nvehicle sales decreased by 10.6% y\/y, while heavy commercial vehicle sales\nincreased by 37.4% y\/y.    <\/a><\/p>\n\n\n\n

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Volkswagen\nand Toyota continue to dominate the market for passenger vehicles, with each maintaining\nabout a 30% share of the market in 2021. Given the ingrained popularity of\nthese two brands it is unlikely that another car maker will be able to displace\nthem in the short- to medium-term. Kia, Hyundai and Suzuki have market shares\nof 9%, 6% and 5% respectively.  <\/p>\n\n\n\n

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On a\nyear-to-date basis, Toyota is the biggest seller of light commercial vehicles.\nThey have a 54% share of the market so far in 2021. Mercedes is the main player\nin the medium commercial vehicles market with a market share of 32%. The German\ncarmaker also has a 14% market share in the heavy and extra heavy commercial\nvehicle market. Scania has the largest market share in the heavy and\nextra-heavy commercial vehicle market with 24%.  <\/p>\n\n\n\n

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

In the context of 2021 September was an\naverage month for vehicle sales in Namibia. The sale of passenger vehicles\nincreased month-on-month and sales of commercial vehicles decreased, all but\nbalancing each other out. While new vehicle sales remain generally sluggish,\nNamibia\u2019s situation is not unique. Car sales are down in Europe and the US as\nthe global shortage of semiconductors rolls on. However, Namibia\u2019s declines are\nbest explained by consumers not being able to afford new vehicles and\ncorporates not replacing their fleets. <\/p>\n","protected":false},"excerpt":{"rendered":"

767 new vehicles were sold in September, a near identical number to the 762 sold in August. This brings the total number of new vehicle sales in 2021 to 7,221. On a year-on-year basis, new vehicle sales declined by 12.2%. On a 12-month cumulative basis, vehicle sales have grown by \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-29644","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\/29644","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=29644"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/29644\/revisions"}],"predecessor-version":[{"id":29650,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/29644\/revisions\/29650"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=29644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=29644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=29644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}