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Jamaica 2020. Toyota holds over 30% share in a growing market (+5.9%)

Jamaica’s vehicle market in 2020 grows despite infections increasing since August. Indeed, 632 units have been sold in September (+5.7%), leading Year to Date sales at 5.701 units (+5.9%). Toyota grows and holds an impressive 31% market share.
Economic Environment
The economy likely remained in the doldrums in Q3 amid the fallout from the global pandemic, after contracting sharply in Q2. Another steep drop in merchandise imports in July points to still-weakened domestic demand at the start of the quarter.
Moreover, private consumption should have remained downbeat in Q3 overall as some containment measures remained in place, which likely also weighed on capital expenditure. In addition, tourist arrivals continued to fall sharply through September. On the other hand, remittances continued to grow sturdily in July after surging in June, which should have provided some support to household spending.
Turning to the fourth quarter, prospects are less gloomy, although the recent resurgence of new Covid-19 cases globally suggests the external sector could feel the pinch from lower trade levels and still-muted tourist inflows.
Market Trend Year to Date
Jamaica’s vehicle market has been performing quite well in 2020 despite infections rising in August. In fact, 632 units have been sold in September (+5.7%), leading Year to Date sales at 5.701 units, a 5.9% increase compared to the previous year.
Brand-wise, Toyota still dominates the market with 31% market share, followed further down by Kia with 12.7% share and Volkswagen with 10.3% share.
Medium-Term Market Trend
Jamaica’s vehicles market is quite stable between 5.000 – 6.000 annual sales. After hitting the best in 2015, with 6.576 units, the trend embarked on a negative path, and in 2017 the market fell down for the second year in a row, at 5.376 units, down 5.7% from the previous year.
In 2019 the market performed very well, ending the year with sales at 7.176.

TED talk notes #3, Noah Feldman: Politics and religion are technologies
Tuesday October 27, 2020

politics and religion are analyzable as technologies, via conceptual design democracy is a way to channel power from many into hands of few Islam – means of construing universe as way to bring salvation to its followers to achieve goals: peace, justice, equality as viewed within its doctrine there isn’t a clear symbol for democracy or Islam, as […]

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Tables with sales figures
In the tables below we report sales for the Top 10 Brands

Uganda. Market contracts by 36% in 2020 after hitting the highest volume of the decade last year
Friday September 25, 2020

Uganda vehicles market in 2020 reports a considerable contraction after hitting the highest volume of the decade the previous year. Indeed, 948 units were sold Year To Date until August, losing 36% compared to last year. Toyota  (-21.3%) maintains in leadership, Volkswagen was the top 10 gainer, with a 175% increase while Mazda plummeted by […]

The post Uganda. Market contracts by 36% in 2020 after hitting the highest volume of the decade last year appeared first on Celadon Saigon.

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