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Luxembourg 2020. Fiat shines (+75%) in a quickly recovering auto market (+23.8%)

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Important Details To Keep In Mind Before Getting A New Vehicle
Monday March 22, 2021

Buying a new vehicle on impulse is never a good decision. This is possibly the second most important purchase of your lifetime. It is a decision wherein if you don’t put enough effort into research and thought, you could end up with a vehicle that’s not right for you. There are many things that you […]

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El Salvador 2020. Vehicle market still unable to recover effectively (-30.6%) after second wave hits the country
Thursday November 12, 2020

El Salvador vehicles market in 2020 suffers again in September, affected by the country’s second wave of infections. Indeed, 278 units have been sold in September (-58.4%), leading Year to Date sales at 4.180 units (-30.6%). Economic Environment Economic conditions likely remained downbeat in Q3, despite improving somewhat, after Q2’s record GDP contraction due to […]

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Luxembourg Car Sales improved in September 2020, illustrating a recovering market. Indeed, 4.073 units were sold in September (+23.8%), leading Year to Date sales to 34.046, down 20.6% from the previous year. Fiat grew 75% while Volvo plummeted, losing 42.5%.
Market Trend in September
In September the Luxembourg car recovered even further after a slight drop in sales in August (-3.3%). Indeed, 4.073 units were sold in September (+23.8%), leading Year to Date sales to 34.046 units, down 20.6% compared to the previous year. 
Brand-wise, the leader Volkswagen (+19.7%) performed slightly worse than the market average, while the top 10 performer, Fiat, reported a 75% increase in sales. The worst top 10 performance was registered by Volvo, losing 42.5%.
Medium Terms Market Trend
Luxemburg vehicles market in the last decade fluctuated around 50k annual sales. In 2018 registrations confirmed the positive tone shown since early 2017 with moderate growth. Indeed, car passenger sales in 2018 were at 52.667 (+0.9%). In 2019, the market was still on a positive track, growing by 4.2% with 54.922 units sold, signing the 4th consecutive annual gain.
However, in the first two months of 2020, the market started on the wrong foot. Indeed, according to data released by the Luxembourg Portal for Statistics, year to date February sales have been 9.104 (-8.1%)
In Q1 2020 11.912 units were sold, a 17.7% decrease compared to last year. Subsequently, in the First Half of the year, the market was hit by the COVID-19 pandemic, leading First Half figures to 20.793 units with a loss of 33%.
In July the market recovered promptly, reporting 5.509 units sold, a 15.3% increase. In August sales declined again, 3.671 units were sold (-3.3%).
Economic Environment
The economy contracted for the first time in nearly eight years in the second quarter as GDP fell at a record-breaking pace due to the fallout from the pandemic and associated containment measures. The downturn came largely on the back of plunging household and capital expenditure as consumers and firms put off non-essential spending.
Turning to Q3, available data hints at firming activity. In July, the economic sentiment indicator logged its best reading since March following the further lifting of Covid-19 restrictions during the month, and it remained broadly unchanged in August.
Moreover, in August the jobless rate dropped to its lowest level in five months, indicating a stabilizing labor market. Meanwhile, in early September, both Fitch Ratings and S&P Global Ratings affirmed the country’s triple-A rating, noting its sound public finances and strong capacity to deal with the pandemic.
Tables with sales figures
In the tables below we report sales for all Brands and top 10 Manufacturers Group.

Honduras 2020. Nissan holds 21.4% share in a market steadily down 24.8%
Monday November 16, 2020

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