Namibia’s new vehicle sales surged by 15.6% month-on-month in February, reaching 1,117 units compared to 966 recorded in January 2025, latest data shows.
According to IJG Securities, year-on-year, sales increased by 1.7%, while year-to-date figures went up 3.8% to 2,083 units, the highest for the first two months of the year since 2016.
Commercial vehicles dominated February’s sales, accounting for 606 units, while 511 passenger vehicles were sold.
“Light commercial vehicles were the top-selling category for the month, with 540 units sold. This however represents a 5.6% y/y decrease in sales compared to February 2024,” said IJG.
On a 12-month cumulative basis, new vehicle sales experienced modest growth of 1.8% y/y to 12,885.
“The 1.8% y/y growth in 12-month cumulative new vehicle sales to 12,885 indicates a marginal upward trend, which is likely to be further supported by the current low-interest rate environment,” said IJG.
Meanwhile, a total of 511 new passenger vehicles were sold during the month, reflecting a 9.0% m/m increase and a 10.4% y/y rise compared to the 463 units sold in February 2024.
“Year-to-date, new passenger vehicle sales reached 980 units, marking a 10.0% y/y increase compared to the 891 units sold during the same period last year. On a 12-month cumulative basis, sales of new passenger vehicles totalled 5,873 units, a slight decline of 1.0% y/y,” IJG said.
In February, 606 new commercial vehicles were sold, marking a 21.9% m/m increase compared to the 497 units sold in January.
According to the firm, this also represents the highest monthly number of units sold since October 2024.
New commercial vehicle sales were however down 4.6% y/y compared to the 635 units sold in February 2024.
“Sales of light commercial vehicles reached 540 units, up 16.6% m/m from the 463 units sold in January, while medium commercial vehicle sales totalled 25 units, reflecting a 25.0% m/m increase and substantial 66.7% y/y rise,” said IJG.
In contrast, heavy commercial vehicle sales declined by 14.6% y/y, totalling 41 units, yet reflects a significant improvement compared to the 14 units sold in January.
On a 12-month cumulative basis, light commercial vehicle sales are up 4.6% y/y, and medium commercial vehicle sales have increased by 6.9% y/y.
On the other hand, heavy commercial vehicle sales are, however, down 0.7% y/y over the corresponding 12-month cumulative period a year ago.
In terms of market share, Toyota continues to lead the year-to-date sales in both the passenger and light commercial vehicle segments.
In the passenger vehicle segment, Toyota holds a 50% market share, while in the light commercial vehicle segment, Toyota retained a 66% share.
Volkswagen continues to secure the second-largest share in the passenger segment with a 15.5% market share, while Ford captured 12.5% of the light commercial segment.
In the medium commercial vehicle segment, Toyota leads with a 40% share of total sales, while Hino and Mercedes-Benz each captured 20% of the medium commercial vehicle sales.
In the heavy and extra-heavy commercial vehicle segment, both Faw and Hino secured a 24% share of sales. Scania followed closely with a 20% share, while Volvo Trucks accounted for 12% of sales.
