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Monday, 3 January 2022

Car sales drop in November

Passenger car sales dipped in November, falling 3.9% y-o-y, according to industry figures released yesterday. Data from the Automotive Information Council (AMIC) showed that 19.7k units were sold during the month, down from 20.5k during November of 2020 and 19.3k units in October.

The chip shortage is making itself felt: November’s sales drop suggests that the global shortage in semiconductor chips has begun to more significantly impact car sales. Passenger car sales were essentially flat y-o-y in October after months of sustained y-o-y growth. November’s dip could herald worse to come, with many in the industry telling us they expect this year to bring a more serious supply crunch, including potential price hikes and local production cuts.

Buses bucked the falling sales trend: Over 3k buses were sold during the month, up 45.4% y-o-y and up 24.6% from October. Truck sales also rose 11.5% y-o-y to 3.9k, though sales were down slightly from October. The strong performance in bus and truck sales led total vehicle sales to rise 2.1% y-o-y to 26.7k units in November.

AMIC data is self-reported by member distributors, who include the majority of (but not all) industry participants.

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