Motoring (19)

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.

Namibian motorists should brace themselves for another fuel hike in November after the Ministry of Mines and Energy announced a price increase of 50 c/litre for petrol and 70 c/litre for diesel on Thursday.

Hertz Global Holdings, barely four months out of bankruptcy, placed an order for 100 000 Teslas in the first step of an ambitious plan to electrify its rental-car fleet. Tesla’s shares soared, pushing the automaker’s value past $1 trillion for the first time.

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