Toyota sold a total of 10,171 units in Namibia in 2024, with the Hilux, Fortuner, and Corolla Cross emerging as the best-selling models.
According to Junior Economist at Simonis Storm, Almandro Jansen, Toyota’s success can be attributed to the brand’s strong customer loyalty, excellent resale value and the sustained popularity of key models like the Hilux, Fortuner and Corolla Cross.
“Toyota’s performance highlights its ability to deliver reliability and versatility in an environment marked by economic uncertainty. The brand’s dominance comes from offering long-term value, which appeals to both commercial and private buyers,” Jansen said.
Volkswagen (VW) secured second place, selling 1,200 units. The Polo Vivo and T-Cross were particularly popular, reflecting a shift in consumer preferences toward cost-effective vehicles, especially as financing costs increased throughout the year.
“VW’s models cater to the growing need for affordable vehicles, particularly in a market where interest rates and financing costs have risen. The brand’s appeal lies in its affordability and efficiency,” Jansen said.
Ford took the third spot with 799 units sold, continuing to benefit from the demand for light commercial vehicles, especially the Ranger, which remains a key competitor to the Toyota Hilux.
“Ford’s strength lies in the resilience of the light commercial vehicle market, which remains a critical segment for industries like logistics, construction, and agriculture. The demand for these durable vehicles is sustained by the needs of business owners,” Jansen noted.
Kia showed consistent growth, driven by an increasing demand for compact SUVs. Models like the Sonet and Seltos appealed to consumers seeking fuel efficiency, modern features, and affordability.
“Kia’s growth reflects a broader consumer trend favouring vehicles that balance cost, functionality, and technology. As economic conditions evolve, the brand has successfully adapted to meet shifting consumer preferences,” Jansen explained.
Nissan rounded out the top five, with 422 units sold, thanks to models like the Navara and Magnite. Despite stiff competition, Nissan managed to maintain a strong presence in both the bakkie and SUV segments.
“Nissan’s ability to maintain market share, despite fierce competition, speaks to its strategic offerings and competitive financing options. Their ability to attract buyers seeking alternatives to Toyota and Ford keeps them relevant,” Jansen added.
In December 2024, Toyota continued to lead the market with 520 new vehicle sales, with the Hilux maintaining its dominant position, selling 343 units. The Corolla Cross and Fortuner followed closely in the passenger vehicle category.
“Toyota’s continued leadership in December underscores its strong brand presence. The Hilux, in particular, caters to both commercial and individual buyers, with its reputation for reliability and adaptability,” Jansen said.
Ford’s Ranger also performed well, with 52 units sold in December, reflecting its strong appeal in the light commercial vehicle segment.
“Ford’s Ranger remains a key player in the LCV segment, with strong sales showcasing its appeal to businesses and buyers looking for rugged performance,” Jansen noted.
December 2024 saw a 30.8% year-on-year increase in vehicle sales, reaching 1,100 units, contributing to a total of 12,854 units sold for the year. This marked a modest 0.5% increase from 2023.
“This growth, while modest, represents the highest annual vehicle sales figure since 2017. The market is showing signs of recovery, supported by a favourable economic environment and improved access to credit,” Jansen observed.
The commercial vehicle segment remained dominant, accounting for 53% of total sales in December. The light commercial vehicle category continued to lead growth, underscoring its vital role in Namibia’s economy.
“The sustained demand for LCVs reflects their importance in key sectors like logistics and construction, which are essential to Namibia’s economic recovery,” Jansen said.
As the vehicle market moves into 2025, it will face external pressures such as fuel price fluctuations and exchange rate volatility, which could impact its performance.
“The vehicle market in Namibia is shifting from post-pandemic challenges to a more stable trajectory. However, external pressures may affect the sector’s performance in the year ahead,” Jansen said.
