Category Archives: Vehicle Sales

A total of 1,933 new vehicles were sold in Namibia during July. New vehicle sales increased by 1.1% year on year, and increased 4% on a year to date basis, to a total of 12,936. This figure keeps Namibia on track for a record year of new vehicle sales. The 12-month cumulative measure of new vehicles sold increased slightly from 22,434 in June to 22,455 in July.

Passenger vehicle sales fell by 13.7% month on month, from 906 in June to 782 in July. June’s sales figure was the third-highest passenger vehicle sales month of all time in Namibia. On a year to date basis, sales of new passenger vehicles grew by 2.5% to 5,768, which is the highest figure on record. Year on year sales fell by 4.5%.

Commercial vehicle sales increased by an impressive 22.6% month on month to 1,151 vehicles sold, continuing after an increase of 8.3% last month. The total number of new commercial vehicles sold this year increased by 5.3% to 7,168, on track for the best-selling year on record. Sales of light commercial vehicles increased by 18.3% month to month and 4.3% year on year, rebounding after a fall of 15% year on year last month. Medium commercial vehicle sales rose by 45.8% month on month, yet decreased by 34% year on year, and heavy commercial vehicle sales rose by 84.3% month on month and 56.7% year on year. Sales of light, medium and heavy commercial vehicles are all on track for recording-breaking years, according to year to date figures.

The Bottom Line

Current year to date vehicle sales are at record levels for all categories measured. This is a sign of positive consumer sentiment and indicative of a growing economy. A strong consumer base supported by expansionary fiscal policy and real wage growth should see this growth trend continue, although at a slower pace due to an elevated base set last year.

A total of 1,845 new vehicles were sold in Namibia during June. New vehicle sales fell by 8.8% year on year, although this is due to the high base set last year. On a year to date basis new vehicle sales grew by 4.6% to 11,003, therefore still on track for a record year. The 12 month cumulative measure of new vehicles sold fell for a second month, down from 22,611 in May to 22,434 in June, largely due to the high base set in June 2014.

Passenger vehicle sales rebounded 23.1% on a month on month basis after falling 15.4% last month. On a year to date basis sales of new passenger vehicles rose 3.7% to 4,986 vehicles sold, the highest figure on record. Year on year sales of new passenger vehicles grew by 1.5%, up from -3.8% last month. A total of 906 new passenger vehicles were sold during June, four vehicles short of the highest figure on record.

On a month on month basis new commercial vehicle sales rebounded 8.3% with a total of 939 vehicles driving off the showroom floors. The total number of new commercial vehicles sold for the year has increased by 5.3% to 6,017, on track for a record year. Sales of new light commercial vehicles jumped 9.4% month on month, although dropping 15% year on year, due to a high base in June last year. Sales of medium commercial vehicles rose by 20% over last month while sales of heavy commercial vehicles fell by 10.5% on a month on month basis. Both these metrics are on track for record sales on a yearly basis with record year to date figures.

The Bottom Line

Current year to date vehicle sales are at record levels for all classes measured. This is a sign of positive consumer sentiment and indicative of a growing economy. A strong consumer base supported by expansionary fiscal policy and real wage growth should see the growth trend continue, although at a slower pace due to an elevated base set last year.

A total of 1,603 new vehicles were sold in Namibia during May. This constitutes the lowest new vehicle sales figure since January 2014. Sales fell 3.3% year on year after growing by 4.4% year on year in April. On a month on month basis sales of new vehicles fell by 8% although year to date sales set a record high with 9,148 new vehicles sold during the first five months of 2015.

The 12 month cumulative measure decreased to 22,611 from 22,664 in April, the first such decrease in 30 months. The magnitude of the decrease is very slight and does not indicate a material decline in the rate of growth of new vehicle sales.

Sales of passenger vehicles decreased by 15.4% month on month during May after sliding 4.4% month on month in April. On a year to date basis 4,080 new passenger have been sold eclipsing last year’s figure of 3,913. Once again Toyota and Volkswagen made up the bulk of new passenger vehicle sales, contributing 61% to the total, down from 70% in April. The roles have reversed however with Volkswagen outselling Toyota for the first time since June last year.

Total new commercial vehicle sales dropped a further 0.6% month on month in May after falling 29.7% in April. On a year to date basis the trend continues with record new commercial vehicle sales being recorded once again in May despite the comparatively poor figures recorded in April and May. Sales of new light commercial vehicles rose by 1.7% month on month, the only subsector to record an increase on a month on month basis. Sales of new medium commercial vehicles fell 45.9% month on month, with a total of 20 vehicles leaving the showroom floor. 57 new heavy commercial vehicles were sold during May, one less than in April. Sales of medium and heavy commercial vehicles on a month on month basis tend to be inconsistent and thus are not always indicative of the bigger picture. Both these categories have recorded record sales on a year to date basis during 2015 thus far.

The Bottom Line

Recent relative weakness in new vehicle sales can largely be attributed to the high base set during the first three months of 2015. The cumulative year to date figures convey a truer picture, with all subcategories posting record sales. A strong consumer base supported by expansionary fiscal policy and real wage growth should see the growth trend continue, although at a slower pace due to an elevated base.