A total of 1054 new vehicles sold in September

A total of 1 054 new vehicles were sold in September, a 4.3% month-on-month contraction from the upward revised 1 101 vehicles sold in August but 3.5% more than the 1 018 sold in September 2022, according to IJG Securities. Year-to date, a total of 9 852 new vehicles have been sold during the first three quarters of the year, of which 4 830 were passenger vehicles, 4 414 were light commercial vehicles, and 608 medium and heavy commercial vehicles. By comparison, 7 932 new vehicles were sold during the first three quarters of 2022. On a 12-month cumulative basis, a total of 12 843 new vehicles were sold by the end of September, representing a 26.7% year-on-year increase from the 10 138 sold over the comparable period a year ago.

A total of 528 new passenger vehicles were sold in September, 20 more than the 508 sold in August. Year-to-date, 4 830 new passenger vehicles have been sold, 18.5% more than that sold during the first three quarters last year. Toyota and Volkswagen’s sales accounted for 57.2% of the total passenger vehicle sales made during the month. On a 12-month cumulative basis, new passenger vehicle sales rose to 6 329, up 22.3% year-on-year from the 5 176 sold over the corresponding period a year ago, and the highest 12-month cumulative figure since April 2017, IJG added.

New commercial vehicle sales amounted to 526 in September, down 11.3% month-on-month from the 593 commercial vehicles sold in August but 2.5% higher than the 513 sold in September 2022. The 526 commercial vehicles sold are slightly below the monthly average that we’ve been witnessing for the year.

Light Commercial

Light commercial vehicle sales continue to make up the bulk of the new commercial vehicle sales with 458 sold in September, followed by 51 heavy and extra heavy vehicle sales and 17 medium commercial vehicle sales. On a twelve-month cumulative basis, light commercial vehicle sales rose by 32.9% year-on-year, medium commercial vehicle sales are up 40.8% year-on-year and heavy and extra heavy vehicle sales climbed by 13.6%.

Toyota continues to lead the new passenger vehicle market with 43.3% of the segment sales year-to-date, followed by Volkswagen with a 17.1% market share. The two top brands continue to maintain their large gap over the rest of the market with Kia and Suzuki following with 9.6% and 4.6%, respectively, leaving the remaining 25.4% to other brands, IJG pointed out.

Year-to-date, Toyota maintained its dominance in the light commercial vehicle sales segment, claiming 55.6% of the sales year-to-date, followed by Ford with a 12.9% market share. Mercedes continues to lead the medium commercial vehicle segment with 38.2% of sales year-to-date, while Scania retained the number one spot in the heavy and extra-heavy commercial vehicle segment with a market share of 32.2%.

All segments have witnessed significantly higher sales so far than at the same point last year, and the longer-term trends remain positive and are trending around levels last seen in 2018, IJG concluded.