{"id":30518,"date":"2022-01-19T14:59:19","date_gmt":"2022-01-19T12:59:19","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=30518"},"modified":"2022-01-19T14:59:22","modified_gmt":"2022-01-19T12:59:22","slug":"new-vehicle-sales-december-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/new-vehicle-sales-december-2021\/","title":{"rendered":"New Vehicle Sales \u2013 December 2021"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

A total of 734 new vehicles were sold in\nDecember, which is 21 vehicles fewer than were sold in November but represents\na 4.3% y\/y increase from the 704 new vehicles sold in December 2020. Year-to-date\n9,428 new vehicles have been sold, which is 23.9% higher than during 2020, but\n9.5% lower than in 2019. As the chart below indicates, this makes 2021 the\nsecond-worst year for new vehicle sales in the past decade. Of the 9,428 new\nvehicles sold during the year, 4,484 were passenger vehicles, 4,178 were light\ncommercial vehicles, and 766 were medium and heavy commercial vehicles.<\/p>\n\n\n\n

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

362 new\npassenger vehicles were sold during December, representing a 4.5% m\/m\ncontraction, but an 8.4% y\/y increase. 4,484 new passenger vehicles were sold\nin 2021, a significant increase of 39.7% from 2020. Encouragingly, new\npassenger vehicle sales for the year were just 1.8% lower than in 2019,\nindicating that passenger vehicle sales have more or less rebounded to their\npre-pandemic level, although this is still a far cry from the sales figures\nseen during 2013-2015. <\/p>\n\n\n\n

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

A total of 372 commercial vehicles were\nsold in December, five fewer than in November but two more than in December\n2020. During the month, 315 light commercial vehicles, 18 medium and 39 heavy\ncommercial vehicles were sold. For the year, light commercial vehicle sales rose\nby 8.0% y\/y, medium commercial vehicle sales increased by 18.0% y\/y and heavy\ncommercial vehicle sales climbed by 56.0% y\/y. Thus, while all three commercial\nvehicle sales categories have rebounded from the low sales figures recorded in\n2020, heavy commercial vehicle sales have encouragingly recorded the best\nannual sales since 2015.<\/p>\n\n\n\n

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

Toyota led\nthe market for new passenger vehicle sales in 2021, claiming 30.1% of the\nmarket, followed by Volkswagen with a 26.6% share. They were followed by Kia\nand Suzuki at 9.0% and 5.9%, respectively. The only other manufacturer that\nmanaged to breach the 5% market share mark was Hyundai with 5.6% of the market,\nleaving the remaining 22.8% of the market to other brands. <\/p>\n\n\n\n

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

Toyota\ndominated the light commercial vehicle space in 2021 with a 52.8% market share,\nwith Nissan in second place with a 12.8% market share. Ford and Isuzu claimed\n12.6% and 5.1%, respectively, of the number of new light commercial vehicles\nsold for the year. Hino led the medium commercial category with 30.5% of sales\nwhile Scania was number one in the heavy and extra-heavy commercial vehicle\nsegment with 25.4% of the market share during the year. <\/p>\n\n\n\n

The Bottom Line<\/strong> \u00a0<\/em><\/p>\n\n\n\n

While new vehicle sales for the year have\nrebounded from the dismal figures seen in 2020, 2021 was still the second-worst\nyear for vehicle sales in the past decade. The recovery has predominantly been\ndriven by a rebound in passenger vehicle sales, with total commercial vehicle\nsales still lagging well behind 2019 levels. The strong increase in heavy\ncommercial vehicle sales is however welcome news as it suggests that a few\ncompanies and mines upgraded their fleets indicating business optimism. With\nthere being few signs that 2022 will see significant economic growth, we expect\nnew vehicle sales figures to remain more or less in line with 2021\u2019s.<\/p>\n","protected":false},"excerpt":{"rendered":"

A total of 734 new vehicles were sold in December, which is 21 vehicles fewer than were sold in November but represents a 4.3% y\/y increase from the 704 new vehicles sold in December 2020. Year-to-date 9,428 new vehicles have been sold, which is 23.9% higher than during 2020, but \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-30518","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\/30518","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=30518"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/30518\/revisions"}],"predecessor-version":[{"id":30524,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/30518\/revisions\/30524"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=30518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=30518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=30518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}