A total of 1 138 new vehicles were sold in December, contributing to the 14 502 units sold in 2025 and reflecting a 13% increase compared to 2024’s sales.
December sales, however, took a 8.5% dip from the 1 244 units sold in November, but were 3.5% higher year on year (y/y) compared to the 1 100 units sold in December 2024.
According to an analysis by IJG Securities, 6 724 of the new vehicles sold during the year were passenger vehicles, 6 831 were light commercial vehicles, and 947 were medium and heavy commercial vehicles.
This marks the highest annual new vehicle sales level since 2018.
This performance has been underpinned by a more accommodative interest rate environment, following cumulative 50 basis points (bps) rate cuts, which has supported both business and consumer demand, IJG says.
“While the 14 502 units remains well below the 2016 peak, it represents the highest annual level since January 2019, with the upward trend remaining intact,” the analysts say.
The report says new passenger vehicle sales rose by 31 units or 6.1% month on month (m/m) to 541 units, with total annual sales reaching 6 724 units.
“This marks the highest annual sales since 2016 and also represents a 16.3% y/y increase relative to the 2024 calendar year, and this suggests that demand for new vehicles is improving and trending upwards,” the analysts say.
Meanwhile, new commercial vehicle sales declined by 137 units (or 18.7%) m/m to 597 units in December.
Despite this monthly contraction, sales increased marginally by 1.5% y/y, compared to the 588 units sold in December 2024.
“On a year-on-year basis, commercial vehicle sales rose by 10.7% to 7 778 units – 754 units higher than the 7 024 units recorded over the corresponding period last year – marking the highest annual sales since 2018,” IJG says.
During the month, light commercial vehicles accounted for the bulk of sales, with 531 units sold, reflecting a 17.8% m/m decline, but a modest 1.1% y/y increase.
Sales of medium commercial vehicles totalled 32 units, representing growth of 17.8% m/m and 60.0% y/y.
“By contrast, demand for heavy commercial vehicles weakened significantly in December, with sales falling to 34 units, down 46.9% m/m and 20.9% y/y,” the report adds.
By year-end, Toyota accounted for more than half of the new passenger vehicle sold during 2025, underscoring its dominant position in the segment.
Volkswagen ranked second with a market share of 13.7%, while Suzuki and Haval placed third and fourth, capturing 6.1% and 5.9% of the annual passenger vehicle sales, respectively.
Toyota’s dominance was even more pronounced in the light commercial vehicle segment, where it accounted for 73.2% of 2025 sales. Ford followed with an 11.6% market share, while Volkswagen lagged behind at 4.7%.
In the medium commercial vehicle segment, Toyota again led the market, securing a 30.5% share of 2025 sales.
Mercedes-Benz and Hino followed in second and third positions, accounting for 26.5% and 22.0% share of sales, respectively.
“Within the heavy and extra-heavy commercial vehicle segment, Scania emerged as the market leader with a 25.3% share of the annual sales, followed by Volvo trucks at 15.1% and FAW coming in third, capturing 14.6% of the market share.”
– email: matthew@namibian.com.na
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