Vehicle sales surge 43% in March

Namibia's vehicle market saw a sharp rebound in March, with sales jumping 43% from February to reach 1 662 units, according to a vehicle sales report by Simonis Storm. This marks the strongest March performance since 2015 and lifts first-quarter totals to 3 835 units, up from 3 412 in the same period last year.

Passenger vehicle sales climbed 28.8% month-on-month to 746 units, from 579 in February, and rose 20.3% year-on-year (y/y) from 620. This is the best monthly figure for the segment in over two years.

Toyota and Volkswagen led gains, with Volkswagen sales surging to 146 units. Simonis Storm linked the uptick to cheaper borrowing costs, better stock at dealerships, and steadier consumer confidence.

Commercial vehicles stole the show, soaring 57.1% from 583 units in February to 916, the highest on record, and up 29.7% y/y from 706.

Light commercial vehicles led at 797 units, up 58.4% month-on-month (m/m) and 37.2% y/y, with Toyota delivering 486. Medium commercials totalled 28 units. Extra-heavy vehicles rose to 57 from 35, heavy vehicles nearly doubled to 33 from 18, and buses sold one unit. Chinese brand Shacman entered the extra-heavy segment with 16 units, signaling rising competition.

Rental firms bought 193 units, or 11.6% of total, up from 82 or 7% in February, building fleets for the May-to-October tourism peak. Dealerships took 1 469 units, or 88.4%. Government purchases remained at zero amid fiscal constraints.