Vehicle sales up 38.7%

Namibia sold 996 new vehicles in October, an increase of 38.7% year-on-year from the 718 vehicles sold in October 2021, latest figures from the National Association of Automobile Manufacturers of South Africa (NAAMSA) show.

According to IJG, year-to-date 8,928 new vehicles have been sold, of which 4,541 were passenger vehicles, 3,818 light commercial vehicles, and 569 medium and heavy commercial vehicles.

On a twelve-month cumulative basis, a total of 10,417 new vehicles were sold at the end of October, representing an 11.5% y/y increase from the 9,343 sold over the comparable period a year ago.

466 new passenger vehicles were sold during the month, a 7.7% m/m contraction from the 505 sold in September, but a 29.4% y/y increase from the 360 vehicles sold in October 2021.

Toyota’s sales accounted for 46.6% of the new passenger vehicles in October.

“On a year-to-date basis, Toyota maintained its dominance in the light commercial vehicle space with 47.5% market share, followed by Nissan with 12.0% of the market. Hino continues to lead the medium commercial vehicle segment with 32.7% of sales year-to-date. In the heavy and extra-heavy commercial vehicle market, Scania retained its position as leader with 26.3% market share,” according to IJG.

On a 12-month cumulative basis, new passenger vehicle sales have increased by 19.6% y/y to 5,282, the highest level since March 2018.

Year-to-date, new passenger vehicle sales rose to 4,541, an increase of 21.3% from the 3,743 vehicles sold during the same period last year.

530 new commercial vehicles were sold in October, representing an increase of 3.3% m/m and 48.5% y/y, the highest year-on-year growth rate since May 2021.

 The year-on-year increase was almost exclusively driven by an increase in light commercial vehicle sales, with medium- and heavy commercial vehicle sales roughly in line with last year.

 Light commercial vehicles sales rose by 55.9% y/y to 460, medium commercial vehicle sales rose by 9.1% y/y to 24, and heavy commercial vehicles sales increased by 15.0% y/y to 46.

On a twelve-month cumulative basis, light commercial vehicle sales increased by 6.4% to 4,449, while medium commercial vehicle sales fell by 1.6% to 186 and heavy commercial vehicles decreased by 9.4% to 500.

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Last modified on Tuesday, 15 November 2022 21:52

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