…Powerstar led the heavy commercial vehicle market
Toyota maintained its dominance of Namibia’s new vehicle market during the first eight months of 2026, accounting for 51.6% of passenger vehicle sales and 67.1% of light commercial vehicle sales, according to IJG Securities.
The market leadership came despite overall new vehicle sales declining by 10.1% month on month in August, with 1,380 units sold compared with 1,535 units in July.
August sales were, however, 8.6% higher than during the corresponding month in 2025, while year-to-date sales continued to show strong growth.
A total of 10,760 new vehicles were sold between January and August, representing a 12.1% increase compared with the same period last year and the strongest first-eight-month performance since 2015.
Rolling 12-month sales increased to 15,711 units, the highest level since September 2016.
In the passenger vehicle segment, Volkswagen ranked second behind Toyota with a 14.3% market share and 710 units sold year to date.
Chinese vehicle manufacturers continued to expand their presence, with Haval accounting for 5.9% of passenger vehicle sales, Jetour 5.8% and Chery 2.3%.
“Toyota’s grip on the market continues to tighten, while Chinese brands steadily take share from the second tier, a competitive dynamic likely to intensify as consumers become more cost-conscious,” IJG said.
Passenger vehicle sales fell by 16.0% month on month to 634 units in August from 755 units in July, which IJG said was the strongest passenger vehicle sales month since July 2015.
Despite the monthly decline, August passenger vehicle sales were 5.1% higher than the 603 units sold in August 2025. Year-to-date passenger vehicle sales increased by 8.7% to 4,968 units.
Commercial vehicle sales performed comparatively better, declining by 4.4% month on month to 746 units, but remaining 11.7% above August 2025 levels.
Year-to-date commercial vehicle sales reached 5,792 units, up 15.2% compared with the same period last year.
Toyota controlled 67.1% of the light commercial vehicle market, followed by Ford with 9.5%, representing 474 units. Isuzu held 4.6%, Volkswagen 4.0%, JAC 3.4% and GWM 2.9%.
Light commercial vehicle sales declined by 9.7% month on month to 615 units, although volumes remained 2.3% higher year on year.
Toyota also led the medium commercial vehicle segment with a 42.2% market share, followed by Mercedes-Benz at 16.6%, Hino at 15.2% and FAW at 13.3%.
Medium commercial vehicle sales increased by 66.7% month on month to 30 units and were 3.4% higher year on year. Year-to-date sales stood at 211 units, 0.5% below the corresponding period in 2025.
Heavy commercial vehicle sales recorded particularly strong growth, reaching 101 units in August, the highest monthly level since 1998.
Sales in the segment increased by 24.7% from July and 165.8% from the 38 units recorded in August 2025.
Year-to-date heavy commercial vehicle sales reached 608 units, representing a 51.2% increase from the previous year. IJG attributed the growth to sustained activity in Namibia’s mining, logistics and construction sectors.
Powerstar led the heavy commercial vehicle market with an 18.4% share, followed by Shacman at 17.6%, Scania at 14.8%, Hino at 13.5%, FAW at 8.4% and Volvo Trucks at 8.2%.
“Commercial demand in particular has held up, and a record-heavy commercial month would suggest capital spending in the productive sectors of the economy remains firm, though a single month in a segment this small warrants caution before reading it as a trend,” IJG said.
The vehicle market is, however, facing increasing pressure from higher operating costs after Namibia’s annual inflation rate accelerated to 5.0% in August from 4.4% in July and 3.2% a year earlier.
Transport inflation climbed to 13.2%, while petrol and diesel inflation reached 25.1% following the partial reversal of the fuel levy reduction and a N$2 per litre fuel price increase in August.
Vehicle purchase inflation remained comparatively subdued at 1.9%, indicating that cost pressures were concentrated more on operating vehicles than purchasing them.
“The risks ahead sit on the cost side. September’s fuel price increases, layered onto an inflation rate that has climbed substantially over the past year, will test affordability through the remainder of 2026, particularly in the more price-sensitive passenger segment,” IJG said.
