Namibia recorded a 127% increase in hybrid and electric vehicle sales in September 2026, with 59 units sold compared with 26 during the same month last year, according to IJG Securities.
The increase comes as more alternative-powered vehicles enter the local market, although they still account for a small share of overall new vehicle sales.
IJG Securities’ latest vehicle sales report shows that hybrid, plug-in hybrid and fully electric vehicles accounted for 3.9% of the 1,498 new vehicles sold in September.
Toyota led the segment with 37 hybrid vehicles sold during the month, while Chinese manufacturer BYD recorded 17 sales across passenger and light commercial vehicle categories.
“Chinese brands hold meaningful share in the passenger segment and new-energy models from brands such as BYD are beginning to show up in the data,” IJG Securities said.
The growth in electrified vehicle sales comes amid rising fuel costs, with petrol and diesel prices increasing by 30.4% year-on-year in September.
Transport inflation accelerated to 14.9% during the month, contributing 2.2 percentage points to Namibia’s overall inflation rate of 5.4%.
Despite higher vehicle running costs, the broader automotive market continued to expand, with September new vehicle sales rising by 14.9% year-on-year to 1,498 units.
Sales also increased by 8.7% from the 1,378 units recorded in August, bringing cumulative sales for the first nine months of 2026 to 12,254 units, up 12.4% from the corresponding period last year.
IJG said the January-to-September performance was the strongest recorded since 2015.
“September confirmed that August’s dip was a pause rather than a turn. Sales recovered to their fourth-highest monthly total of 2026, the first nine months of the year now stand as the strongest since 2015, and rolling 12-month sales continue to climb,” the firm said.
Commercial vehicles remained the main driver of sales, accounting for 843 units in September, compared with 655 passenger vehicles.
Light commercial vehicle sales increased by 21.3% month-on-month to 746 units, while medium commercial vehicle sales rose by 26.7% to 38 units.
Heavy commercial vehicle sales declined to 59 units from 101 in August. However, cumulative sales reached 667 units during the first nine months of the year, a 43.4% increase from the same period in 2025.
IJG said this was the highest January-to-September heavy commercial vehicle sales figure since its records began in 1998, reflecting continued activity in the mining, logistics and construction sectors.
Passenger vehicle sales rose by 18.9% year-on-year to 655 units, bringing year-to-date sales to 5,619 units.
Toyota maintained its dominance in the passenger vehicle market with a 52.3% share, followed by Volkswagen at 13.9%, Haval at 5.8% and Jetour at 5.6%.
IJG warned that rising fuel costs could weigh on vehicle affordability during the final quarter of 2026, particularly in the passenger vehicle segment.
“Petrol rose by another N$1.50 per litre in October while diesel was left unchanged, so running costs will stay elevated into the final quarter. So far, however, new vehicle demand has absorbed the pressure,” IJG Securities said.
