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Local vehicle sales drop by 1.1 % in April

Local vehicle sales drop by 1.1 % in April

The National Association of Automobile Manufacturers South Africa released Namibia’s new vehicle sales numbers for April, showing a 1.1% decrease to 926 units, following an increase of 24.6% to 936 units in March.

The biggest drop materialized under the light commercial vehicles category that dropped by 15.5% in April 2019 to 408 units compared to 483 units in March 2019. On the other hand, passenger vehicles (which is 50.1% of overall vehicles) rose by 10% to 464 units in April 2019 compared to 422 units in March 2019.

However, on an annual basis, vehicle sales surprised to the upside recording an increase of 14.9% to 926 units, breaking through a four-month contraction. Simonis Storms Securities attribute this decrease to the uptick to a low-based year as the volumes remain stubbornly below the 10-year average of 1 200 units.

Meanwhile, South Africa’s vehicle sales for April increased by 266 units to 36 794 units, which could have been spurred by the election that took place on the 8 May.


About The Author

Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys