{"id":30220,"date":"2021-12-13T13:40:41","date_gmt":"2021-12-13T11:40:41","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=30220"},"modified":"2021-12-13T13:40:43","modified_gmt":"2021-12-13T11:40:43","slug":"new-vehicle-sales-november-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-november-2021\/","title":{"rendered":"New Vehicle Sales \u2013 November 2021"},"content":{"rendered":"\n
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752 new vehicles were sold in November, a\n5.3% m\/m increase from the 714 sold in October and a 7.4% y\/y increase from the\n700 sold last November. In November, more passenger vehicles, light commercial\nvehicles and heavy commercial vehicles were sold than in October. Fewer medium\ncommercial vehicles were sold. On a 12-month cumulative basis, vehicle sales\nhave grown by 23.3% y\/y to 9,391. Year-to-date, new vehicle sales have\nincreased by 25.8% to 8,687. However, this is 10.5% lower than the year-to-date\nfigure for November 2019, when 9,706 vehicles were sold. As such, 2021 remains\non track to be the second worst year for new vehicle sales in the past decade. <\/p>\n\n\n\n

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376 new\npassenger vehicles were sold in November, 20 more than in October, translating\nto a 5.6% m\/m increase and a 10.3% y\/y increase. On a 12-month cumulative\nbasis, new passenger vehicle sales have increased by 39.7% y\/y to 4,449.\nYear-to-date, 4,115 new passenger vehicles have been sold. This represents a\n43.1% increase from the year-to-date figure for November 2020, when only 2,876\nnew passenger vehicles were sold. Encouragingly, on a year-to-date basis, new\ncar sales for November almost reached 2019 levels, with the 4,115 sold so far\nthis year only 140 fewer than the 4,255 sold by November 2019. Compared to\ncommercial vehicle sales (4,572 year-to-date sales in 2021 vs 5,451\nyear-to-date sales in 2019), passenger vehicle sales have enjoyed a stronger\nrecovery in 2021.<\/p>\n\n\n\n

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

376 commercial vehicles were sold in\nNovember, a 5.0% m\/m increase and 4.7% y\/y increase. 316 light commercial\nvehicles were sold, translating to a 7.1% m\/m increase but a 1.6% y\/y decrease.\n18 medium commercial vehicles were sold, four fewer than the 22 sold in October.\nSo far this year the average number of medium commercial vehicle sales per\nmonth is 17. 42 heavy commercial vehicles were sold in November, a near\nidentical number to the 41 sold in October. <\/p>\n\n\n\n

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

Toyota\nand Volkswagen retain the largest year-to-date market shares in the passenger\nvehicle market. Toyota\u2019s year-to-date market share is unchanged from October\u2019s\nfigure of 29%, while Volkswagen\u2019s dropped 1% m\/m to 27%. Kia, Suzuki and\nHyundai have market shares of 9%, 6% and 6% respectively. <\/p>\n\n\n\n

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

On a\nyear-to-date basis, Toyota continues to dominate the light commercial vehicles\nmarket. Toyota\u2019s market share currently stands at 52% in 2021. Ample\ncompetition in the medium commercial vehicle sector means that Hino and\nMercedes both capture a significant share of the market, with year-to-date\nmarket shares of 31% and 29% respectively. In the heavy and extra-heavy\ncommercial vehicle market Scania, Volvo and Man continue to enjoy strong market\nshares, with 29%, 19% and 15% respectively.<\/p>\n\n\n\n

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

In the context of 2021, November was an\naverage month for vehicle sales in Namibia. Therefore, 2021 remains on track to\nbe the second worst year for vehicle sales in the past decade.  As alluded to earlier in this report, the\nmarginal recovery from the nadir that was 2020 has been driven predominantly by\na recovery in passenger vehicle sales, with commercial vehicle sales still\nlagging well behind 2019 levels. With persistent global headwinds such as\nsupply chain bottlenecks and semiconductor shortages conspiring to drag down\nvehicle sales globally, and in Namibia, there is no guarantee that 2022 will be\na markedly better year for new vehicle sales.<\/p>\n","protected":false},"excerpt":{"rendered":"

752 new vehicles were sold in November, a 5.3% m\/m increase from the 714 sold in October and a 7.4% y\/y increase from the 700 sold last November. In November, more passenger vehicles, light commercial vehicles and heavy commercial vehicles were sold than in October. Fewer medium commercial vehicles were \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-30220","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\/30220","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=30220"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/30220\/revisions"}],"predecessor-version":[{"id":30226,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/30220\/revisions\/30226"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=30220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=30220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=30220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}