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New vehicles sales slightly increase in November

New vehicles sales slightly increase in November

The number of new vehicles sold in Namibia during November stood at 752, a 5.3% increase from the 714 sold in October and a 7.4% increase from the 700 sold last November 2020, according to the National Association of Automobile Manufacturers of South Africa.

In November, more passenger vehicles, light commercial vehicles and heavy commercial vehicles were sold than in October. Fewer medium commercial vehicles were sold.

On a 12-month cumulative basis, vehicle sales have grown by 23.3% y/y to 9,391. Year-to-date, new vehicle sales have increased by 25.8% to 8,687.

However, this is 10.5% lower than the year-to-date figure for November 2019, when 9,706 vehicles were sold.

IJG research analysts noted that in the context of 2021, November was an average month for vehicle sales in Namibia, adding that 2021, therefore, remains on track to be the second-worst year for vehicle sales in the past decade.

“The marginal recovery from the nadir that was 2020 has been driven predominantly by a recovery in passenger vehicle sales, with commercial vehicle sales still lagging well behind 2019 levels. With persistent global headwinds such as supply chain bottlenecks and semiconductor shortages conspiring to drag down vehicle sales globally, and in Namibia, there is no guarantee that 2022 will be a markedly better year for new vehicle sales,” IJG stated.


 

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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