Report by Monika Kristof
New Vehicle Sales Report, Namibia: December 2021
Executive summary
- New vehicle sales for Namibia declined to 734 for December 2021 from 752 that was recorded in November 2021. See figure 1
- The decline in new vehicles sales for December 2021 was mainly driven by low sales of passenger vehicles and extra heavy vehicles
- A total of 9414 new vehicles were sold during the year 2021 compared to 7612 new vehicles sold in 2020
- On a 12 months, cumulative basis between December 2020 and December 2021, a total of 10114 new vehicles were sold for Namibia compared to 8326 vehicles sold for the period of December 2019 to December 2020
Analysis
- On an annual basis, vehicle sales experienced a growth of 9.19% from (-21.56). This was due to improvements in consumer confidence. See figure 2
- The number of passenger vehicle sales sold for December 2021 declined to 362 from 376 vehicles sold in November 2021, this was influenced by the slump in demand and consumer confidence
- Extra heavy new vehicle sales declined to 33 from 36 vehicles sold in November 2021. This was due to weak demand for heavy goods transportation services
Outlook
- The economic outlook remains subdued but the improvement and adjustment to the trading conditions are slowly returning to boost the transport sector. The overall consumer confidence is on the recovery path albeit at a very slow pace due to the uncertainty of Covid-19
Figure 1: Monthly Vehicle Sales (December 2020 – December 2021), Namibia
Figure 2: Year on Year, Vehicle sales growth (December 2020-December 2021), Namibia
