Toyota dominates passenger vehicle sales

Between January 2022 to October 2022, 4 541 new passenger vehicles were sold, according to IJG Securities. Toyota continues to lead the new passenger vehicle sales with 32.9% of the segment sales year-to-date, followed by Volkswagen with 22.2% of the market share. The two top brands continue to maintain their large gap over the rest of the market, followed by Kia and Suzuki with 9.1% and 7.7% of the market, respectively, leaving the remaining 28.2% to other brands, IJG pointed out.In September 2022, a total of 996 new vehicles were sold, compared to 718 vehicles sold in October 2021. During the review period, 466 new passenger vehicles were sold, of which Toyota accounted for 46.6%.In September 2022, 505 new passenger vehicles were sold, compared to 360 sold in October 2022. On a twelve-month cumulative basis, new passenger vehicle sales have increased by 19.6% year-on-year to 5 282, the highest level since March 2018. Year-to-date, new passenger vehicle sales rose to 4 541, an increase of 21.3% from the 3 743 vehicles sold during the same period last year, IJG added.CommercialMoreover, 530 new commercial vehicles were sold in October, representing an increase of 3.3% month-on-month and 48.5% year-on-year, the highest year-on-year growth rate since May 2021. The year-on-year increase was almost exclusively driven by an increase in light commercial vehicle sales, with medium- and heavy commercial vehicle sales roughly in line with last year. Light commercial vehicles sales rose by 55.9% year-on-year to 460, medium commercial vehicle sales rose by 9.1% year-on-year to 24, and heavy commercial vehicles sales increased by 15.0% year-on-year to 46. On a twelve-month cumulative basis, light commercial vehicle sales increased by 6.4% to 4,449, while medium commercial vehicle sales fell by 1.6% to 186 and heavy commercial vehicles decreased by 9.4% to 500.On a year-to-date basis, Toyota maintained its dominance in the light commercial vehicle space with 47.5% market share, followed by Nissan with 12.0% of the market. Hino continues to lead the medium commercial vehicle segment with 32.7% of sales year-to-date. In the heavy and extra-heavy commercial vehicle market, Scania retained its position as leader with 26.3% market share, IJG said.Overall, year to date, 8 928 new vehicles have been sold.-phillep@nmh.com.na

Toyota dominates passenger vehicle sales

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Toyota dominates passenger vehicle sales

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