Nearly 6 000 new vehicles bought so far this yearBy: STAFF REPORTER
NAMIBIANS bought 1 129 new vehicles in May, nearly 32 per cent more than a year ago.
Although the number is a 3,4 drop from that of April, it is 1,9 per cent increase in the four-month moving average, Simonis Storm Securities (SSS) analyst Rudolph Kuschke said.
So far this year, 5 943 new vehicles have been sold compared to 4 760 during the same period of 2011 – an increase of 24,9 per cent.
There was also an increase in the 12-month cumulative number to 13 592 units, up 15,2 per cent year-on-year and two per cent month-on-month. “These measures, year-to-date and 12 month cumulative vehicles sold, both reflect a strong upward trend,” Kuschke said.
Passenger and medium commercial vehicles sales increased by 11,5 per cent and 40,9 per cent respectively in May, while light and heavy commercial vehicle sales dropped by 14,8 per cent and 20 per cent respectively.
“The monthly drop in vehicle sales was expected as sales are deferred to June and July to make use of specials on vehicles and financing at upcoming motor shows. The drop in vehicle sales on a monthly basis is also a function of a number of holidays in May resulting in fewer business days and people going on holiday,” Kuschke said.
On an annual basis, passenger vehicle sales increased 40,5 per cent in May to 524 units. On a monthly basis, passenger vehicle sales increased 11,5 per cent, however it remained below the four-month moving average of 546 units, Kuschke said.
During May Volkswagen’s market share in the passenger cars sector increased from April’s 34 per cent to 38 per cent, while Toyota’s market share decreased to 20 per cent from a 21 per cent share the previous month.
“The two brands accounted for 51 per cent of the passenger cars sold in May,” Kuschke said.
A total of 605 commercial vehicles were sold in May, which is 13,4 per cent lower than in April. As a result, the four-month moving average reflecting a short-term pullback.
“However the long-term trend is still strong with the monthly figure 25 per cent higher than a year ago,” Kuschke said.
During the month 530 light commercial vehicles were sold, 31 medium commercial vehicles and 44 buses, heavy- and extra-heavy commercial vehicles.
Light commercial vehicles experienced a 24,75 per cent annual increase to 530 units.
A total of 31 medium commercial vehicles were sold in May climbing just above the four-month moving average of 30.
“The 31 new vehicles represent a 106 per cent year-on-year increase.”
Kuschke said buses, heavy- and extra- heavy commercial vehicles sales declined to 44 from April’s 55.