Total number of vehicles sold in Namibia at 7,221 as of September
A total of 7,221 new vehicles were sold in Namibia in 2021, showing an annual decline of 12.2%, according to the September 2021 figures by the National Association of Automobile Manufacturers of South Africa.
About 767 new vehicles were sold in September alone, a near-identical number to the 762 sold in August. In the context of 2021, September was an average month for vehicle sales in Namibia. Research by IJG Securities shows that September is usually a better month for new vehicle purchases.
“In fact, 767 represents the smallest number of new cars sold in the month of September over the past decade, lower even than 2020’s September figure. As such, 2021 remains on track to be the second-worst year for car sales in the past decade,” IJG noted.
IJG stated that the sale of passenger vehicles increased month-on-month and sales of commercial vehicles decreased, all but balancing each other out.
380 new passenger vehicles were sold in September, a 12.4% increase from the 338 sold in August and a 36.7% increase from this time last year. Year-to-date, the sale of new passenger vehicles increased by 51.2%.
Total commercial vehicle sales fell by 8.7% monthly and 35.1% yearly in September. The biggest decline came in the light commercial vehicles category with sales falling by 14.1% monthly and 43.4% yearly to 304, the lowest monthly sales figure for the year.
16 medium commercial vehicles were sold in September, a 6.7% increase but identical to the previous month’s figure. Lastly, 67 heavy commercial vehicles were sold, a 24.1% monthly increase and a 52.3% yearly increase. On a 12-month cumulative basis, light commercial vehicle sales decreased by 5.7% and medium commercial vehicle sales decreased by 10.6%, while heavy commercial vehicle sales increased by 37.4%.
“While new vehicle sales remain generally sluggish, Namibia’s situation is not unique. Car sales are down in Europe and the US as the global shortage of semiconductors rolls on. However, Namibia’s declines are best explained by consumers not being able to afford new vehicles and corporates not replacing their fleets,” IJG added.