Motoring (12)

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.

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.

Toyota is faced with a backlog of between 600 and 700 new vehicles in Namibia, and is struggling to source new vehicles in a timely manner from global factories to satisfy rising demand in the country.

The Russia-Ukraine crisis has caused global oil prices to rise up significantly in the last few days with ramifications in countries such as Namibia where more fuel price hikes are looming after the N$1.20/litre for petrol and N$1.30/litre for diesel increase in March. Market experts are already predicting that the local pump price may breach the N$20 a litre mark.

Namibian individuals and entities bought 9 428 brand new vehicles in 2021, representing a 23.9% annual increase compared to 7 612 sold in 2020, statistics from the National Association of Automobile Manufacturers South Africa (NAAMSA) show.