The Brief is an online news portal and going source with a focus on the Namibian business sector, current affairs, companies and financial markets.
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March 22, 2023
Motoring (19)
Namibia experienced a record-breaking surge in passenger vehicle sales during February 2023, according to the latest data.
The government plans to spend around N$210 million to buy new vehicles in a move aimed at increasing operational efficiencies.
The Namibian vehicle market had a promising start in 2023, with 798 units sold in January 2023, compared to 708 in January 2022, representing a year-on-year increase of 12.7%.
International ride-hailing company, Yango, has made its entry into the Namibian market with the launch of its services in Windhoek. This move comes as competition in the local market continues to heat up, with established players such as LEFA, TaxiConnect, InDriver, InterCity, Dial a Cab, and City Cab already operating in the area.
In 2022, a total of 10,923 vehicle units were sold in Namibia, a 15.9% increase compared to the 9,427 units sold in 2021 and exceeding the 10,415 units sold in 2019.
Namibia sold 996 new vehicles in October, an increase of 38.7% year-on-year from the 718 vehicles sold in October 2021, latest figures from the National Association of Automobile Manufacturers of South Africa (NAAMSA) show.
The Peugeot-Opel assembly plant at Walvis Bay has potential to significantly contribute to Namibia’s economic growth despite low vehicle uptake, the Parliamentary Standing Committee on Economics and Public Administration has said.
Toyota vehicles sales recovered significantly in Namibia following the resumption of production at its KwaZulu Natal plant, latest figures show.
Vehicle prices are expected to continue rising this year due to geopolitics and high raw material and energy costs, economic research firm Simonis Storm has warned.
Cash-strapped Namibians seeking to reduce their debt burdens are slowly turning to Asian vehicle models, with data showing an increasing uptake of the models, with an average 15 units per month sold.
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French carmaker Peugeot is debating the future of its Namibian assembly plant, which was opened in 2018 to build cars for the South Africa market but has since suspended operations.
Namibia recorded 5181 new vehicle sales in the first half of 2022, an increase from 4893 vehicles sold during the same period last year.
The Ministry of Industrialization and Trade has increased the import age restrictions for non-commercial second-hand vehicles to 12 years from the current age cap of 8 years.
The government will have to cough up atleast N$7 billion to complete the dualisation of the 90 kilometre Windhoek-Rehoboth Road, The Brief has established.
