Japanese car brands top sales numbers in Namibia

Japanese car models topped sales in Namibia in April, a recent report shows.

The report, released by Simonis Storm Securities, shows that Toyota was the most preferred brand in new vehicle sales for April, followed by Volkswagen and Mercedes-Benz.

Various Japanese brands led with 574 units sold, capturing 63,8% of the market share as vehicle sales in Namibia dropped to 899 units from 1 451 units sold in March, and 1 004 units sold in April 2023, marking the lowest monthly sales recorded this year.

According to the analysts, this represents a negative growth rate of 38 month on month, and 10,5% year on year.

The decline in sales was primarily driven by commercial vehicles, contributing to the overall drop compared to the previous month.

“Out of the 899 vehicles sold in April 2024, dealerships acquired 887 units, while rental agencies purchased 12 units, which constituted only 1,3% of the total monthly sales,” Simonis says, adding that all vehicles sold to rental agencies were Toyota passenger vehicles, with no sales recorded to government agencies.

Light commercial vehicles dominated April’s sales, with 433 units sold, indicating robust business and trade activities, the analysts say.
Passenger vehicles followed closely with 411 units.

Simonis says the sales of extra-heavy commercial vehicles at 39 units, along with medium and heavy commercial vehicles at 10 and four units, respectively, suggest ongoing investment in the infrastructure and industrial sectors.

Only two buses were sold during this period.

“ . . . German brands followed the Japanese brands with 114 vehicles sold, reflecting the admiration for German engineering and performance,” Simonis says.

The researchers say South Korea ranked third, with 55 vehicles sold (6,1%), indicating the appeal of its modern designs and advanced technology, primarily from Kia.

American models, with 53 units sold, also have a significant presence, largely driven by the popularity of Ford, Simonis says.

Both China and Sweden sold 33 vehicles each, showing that Chinese brands are making inroads with their competitive pricing and improved quality, while Swedish brands attract consumers with their safety features and innovative designs.

France’s 13 vehicles sold suggest a smaller but stable market segment, whereas Indian vehicles, with 18 units sold, cater to budget-conscious buyers.

English vehicles have a minimal presence, with only six units sold, indicating limited preference or availability in Namibia.

No Italian vehicle was sold during this period.

Meanwhile, South Africa’s new vehicle sales for April 2024 presented a contrast to Namibia’s declining trend, showing a modest year-on-year increase of approximately 2%, with total sales reaching 38 172 units, up from 37 358 in April 2023.

Despite a general downturn in the three-month moving average, this growth was driven by a 12% year-on-year surge in commercial vehicle sales, a full month without load-shedding, and significant discounting by manufacturers and dealers, the analysts say.
– email: matthew@namibian.com.na