Vehicle sales decrease by 27.8% in April
About 825 new vehicles were sold in April, which represents a 27.8% decrease from the 1,142 vehicles sold in March.
This figure represents a decrease by 14.0% from April 2017 when 959 vehicles were sold. Year-to-date 3,886 vehicles have been sold of which 1,829 were passenger vehicles, 1,888 light commercial vehicles, and 169 medium and heavy commercial vehicles.
Meanwhile, Toyota and Volkswagen continue to maintain their strong hold on the passenger vehicle market based on the number of new vehicles sold year-to-date, claiming 37.1% and 28.0% of the market, respectively.
They were followed by Hyundai and Mercedes at 5.2% and 4.7% respectively, while the rest of the passenger vehicle market continues to be shared by several competitors.
Furthermore, Toyota also remains the leader in the light commercial vehicle space with a 58.1% market share, with Nissan in second place with a 15.3% share. Ford and Isuzu claimed 8.1% and 6.6% of the number of light commercial vehicles for the year, respectively.
Hino leads the medium commercial vehicle category with 40.3% of sales while Scania remains number one in the heavy and extra-heavy commercial vehicle segment with 22.7% of the market share year to date.
Based on this figures, IJG Securities noted that cumulative vehicle sales continue to contract on a rolling 12-month basis, and year-to-date figures are hovering around 2011 levels.
Caption: Commercial vehicle sales have declined to 452 units, representing a 27.7% month on month and 17.8% year on year contraction. During April, 397 light commercial vehicles were sold.