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Largest number of new vehicle units sold in 16 months recorded in February

Largest number of new vehicle units sold in 16 months recorded in February

The month of February, saw Namibia record the largest monthly new vehicle sales in over 16 months, with a total sale of 891 units.

The highest sales before this, was in October 2019 when 971 units were sold. This is according to figures released by the National Association of Automobile Manufacturers .

The statistics showed a deviation from the long-term contractionary trend that persisted through 2020. New vehicle sales are up 11.7% yearly and 28.4% monthly as all subcategories posted double digit growth rates on a monthly basis, except the bus category which remain mute.

For the first two months of 2021, 1,585 new vehicles have been sold, of which 764 were passenger vehicles, 703 light commercial vehicles, and 118 medium and heavy commercial vehicles.

This means that 2021 is off to a slightly better start compared to last year, which saw the first two months record 1,470 in new vehicles sold.

Volkswagen enjoys a strong lead in the passenger vehicle sales segment with 40.3% of the segment sales year-to-date, followed by Toyota with 21.6% of the market share.

The two top brands maintained their large gap over the rest of the market with Kia and Mercedes following with 6% and 5.5% of the market, respectively, leaving the remaining 26.6% of the market to other brands.


 

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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

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