Monthly new vehicle sales increase for the second time this year
September marked only the second month of 2020 where monthly new vehicle sales topped sales from the corresponding month in 2019, the other being February. Overall, however, vehicle sales still show a strong decline compared to 2019.
Local vehicle sales statistics by the Association of Automobile Manufacturers of South Africa (Naamsa) show that 874 new vehicles were sold in September, an increase of 46.9% from the 595 vehicles sold in August this year.
The best month of 2020 in commercial vehicles sales thus far was recorded in September with 596 units sold. This is a 53.6% monthly, and 22.6% yearly increase.
Analysis by IJG notes that a multitude of obstacles weigh on a return to growth for the Namibian economy, not least of which is the poor policy overhang.
“We thus expect the Namibian economy to remain fragile for the foreseeable future and we expect this to be reflected in vehicle sales, building plan approvals as well as private sector credit extension and other high frequency indicators,” IJG stated in their monthly vehicle sales report.
Meanwhile, Toyota remained the leader in the light commercial vehicle space with a dominant 59.1% market share. Nissan and Ford were the only other manufacturers to breach the 10% market share level with 11.8% and 10.8% of the market respectively.
Mercedes lead the medium commercial vehicle segment with 30.3% of sales year-to-date, closely followed by Hino with 27.3% of the market. Scania remained number one in the competitive heavy and extra-heavy commercial vehicle segment with 22.1% of the market share year-to-date, closely followed by Volvo Trucks and Mercedes with 19.1% and 17.6% of the market respectively.
