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New Auto Sales Increased by 0.3% in April

Intelligent Economics > Analysis > New Auto Sales Increased by 0.3% in April

New car unit sales for April 2023 amounted to 10,870 units sold, this being an increase of 37 units sold (0.3%) compared on a year-over-year basis with April 2022. April 2023 new car unit sales are also an increase of 138 units sold (1.3%) in a month-to-month basis with March 2023, the first increase in units sold after five consecutive months of decreases in sales. In year-to-date sales from January 2023 to April 2023 there was a total of 40,417 new cars sold, compared to 2022’s year-to-date sales this is a 7.2% reduction even though it still represents a 24.1% increase from the 2019 pre-COVID sales.

By the type of vehicle SUVs continue to be the primary type of vehicle sold with 6,748 units sold (62.7%) in April 2023, compared to the previous month of March 2023 it represents a 1.9 percentile point reduction of the total sales but a 8.2 percentile point increase of the total sales when compared with April 2022. After SUVs, the most vehicles sold by type in April 2023 were Sedans with 2,088 units sold (19.4%) and Pickups with 1,441 units sold (13.4%).

As for vehicle brands, Toyota in the current year has had most year-to-date sales among the other brands with 9,791 units sold; notably in April 2023 alone 2,412 units of Toyota vehicles were sold which is a 2% decrease compared to March 2023 and an even greater 36.2% decrease compared to April 2022, these changes in sales being below the changes experienced in the general context indicate that the brand is potentially losing its share in sales slowly even though it is still currently outperforming competitors. Following Toyota, the car brands with the highest year-to-date sales are Hyundai that currently maintains 7,138 units sold, and Ford with 3,903 units sold.

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