Toyota dominated Namibia’s vehicle sales in April 2024, with a 43.2% share of passenger vehicle sales and 50% of total sales, latest data reveals.
According to data provided by Cirrus Capital’s Head of Data & Analytics, Tannan Groenewald, out of the 411 passenger units sold during the period under review, 174 were Toyota vehicles.
The Toyota Landcruiser PU and Hilux emerged as favorites among consumers, contributing to Toyota’s substantial presence in the industry.
“207 Toyota Hilux units were sold in April 2024. The Toyota Landcruiser PU came in second with 65 units sold, followed by the Toyota Corolla Cross with 55 units sold. Toyota vehicles made up 50.4% of the total vehicles sold. There were twelve rental agency purchases—seven Toyota Fortuners and five Toyota Urban Cruisers,” Groenewald said.
Meanwhile, in passenger vehicles, Volkswagen trailed behind with a 14.1% market share, followed by Kia and Suzuki with shares of 11.7% and 9.0%, respectively.
“Volkswagen came in second, with 58 units sold and a share of 14.1%, followed by Kia and Suzuki with shares of 11.7% and 9.0%, respectively,” said Groenewald.
This comes as in April 2024, vehicle sales in Namibia fell to 899 units, down from 1,451 units in March and 1,004 units in April 2023, marking the lowest monthly sales recorded this year.
Simonis Storm Junior Economist Halleluya Ndimulunde said this represents a negative growth rate of 38.0% m/m and 10.5% y/y.
“The decline in sales was primarily driven by commercial vehicles, contributing to the overall drop compared to the previous month,” she said.
Ndimulunde said that vehicle sales by country of origin in April 2024 show a strong preference for Japanese and German vehicles in Namibia.
She said Japanese brands led with 574 units sold, capturing 63.8% of the market share with Toyota being the most preferred brand.
“Germany follows with 114 vehicles sold, reflecting the admiration for German engineering and performance, with Volkswagen and Mercedes Benz being the leading brands. South Korea comes in third, with 55 vehicles sold (6.1%), indicating the appeal of their modern designs and advanced technology, primarily from Kia. American vehicles, with 53 units sold, also have a significant presence, largely driven by the popularity of Ford,” she said.
