Vehicle sales in Namibia have continued to rise in 2024, with 4,402 units sold year-to-date, despite high interest rates, the latest data reveals.
Simonis Storm Junior Economist Halleluya Ndimulunde said commercial vehicles remain the primary driver of sales this year.
“This is largely due to increased commodity explorations by local mining companies and the expansion of market share by local transport companies in regional logistics services,” she said.
Ndimulunde noted 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.
She added that China and Sweden sold 33 vehicles each, showing that Chinese brands are making inroads with their competitive pricing and improving quality, while Swedish brands attract consumers with their safety features and innovative designs.
France’s 13 vehicle sales 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 6 units sold, indicating limited preference or availability in Namibia. No Italian vehicles were sold during this period.
