A vehicle sales report for the month of May released by Simonis Storm reveals that the Toyota Fortuner leads the passenger vehicles segment with 68 units sold, highlighting its popularity in the market for larger, versatile vehicles.
At the same time, the Toyota Hilux emerged as a top performer in the light commercial vehicles category, with 165 units sold in May 2024, showcasing its strong appeal among buyers seeking robust utility and reliability.
“Meanwhile, in the medium commercial vehicles category, the Mercedes-Benz Sprinter recorded 5 units sold and 12 UD Trucks in heavy commercial vehicle category. Additionally, the Scania G-Series attracted attention in the extra heavy vehicles category with 6 units sold. These sales figures not only highlight consumer preferences but also provide insights into broader economic indicators and industry trends shaping the automotive market,” reads the report in part.
In May 2024, vehicle sales in Namibia reached 966 units, marking 7.5% m/m increase from the 899 units sold in April 2024. However, this figure represents a slight decline compared to the 982 units sold in May 2023. Commercial vehicles continue to drive sales in the market. By the end of April 2024, corporate instalment and leasing credit uptake has averaged 24.5% year-to-date, while household instalment and leasing credit uptake has averaged 6.1% year-to-date.
Out of the 966 vehicles sold in Namibia during May 2024, dealerships accounted for 921 units, while rental agencies acquired 45 units, representing a modest 4.7% of the total sales. Specifically, rental agencies purchased 10 Toyota Hilux in the light commercial vehicles segment, alongside 20 VW Polo Vivos, 5 Toyota Fortuners, 5 Toyota Corolla Quests, and 5 Corolla Crosses in the passenger vehicles category.
There remains no record of vehicle sales to the government. Passenger vehicles (PASS) and light commercial vehicles (LCV) remain the most significant categories, with 460 and 442 units sold, respectively. Sales of passenger vehicles declined by 8.9% y/y compared to the same period last year, indicating a slight decrease in consumer demand for these vehicles. In contrast, sales of light commercial vehicles increased by 8.1% y/y.
Medium commercial vehicles (MCVs) experienced a decline of 31.8% y/y, with only 15 units sold in May 2024, compared to 22 units in May 2023. In contrast, heavy commercial vehicles (HCVs) saw growth of 185.7% y/y, selling 20 units in May 2024 compared to 7 in the previous year and 4 units sold last month. This increase suggests an uptick in industrial or infrastructure-related activities requiring heavier vehicles. Extra heavy vehicles (XHVs) experienced a decline of 33.3% y/y and only three buses were sold in May 2024.