Report by Monika Kristof
Executive summary
- Namibia’s vehicle sales declined to 800 vehicles for July 2021 from 843 vehicles sold for June 2021. See figure 1
- The decline in vehicles sales for July 2021 was mainly driven by low sales in extra heavy vehicles and passenger vehicles
- Extra heavy commercial vehicle sales declined by 75% for July 2021 when compared to June 2021.
- Passenger vehicle sales declined by 10% for July 2021 when compared to June 2021
- Light commercial vehicle sales increased by 14% when compared to June 2021
- On a 12 months cumulative basis between July 2020 to July 2021 a total of 9778 vehicles were sold for Namibia compared to 9264 vehicles sold for the period of July 2019 to July 2020
Analysis
- On an annual basis vehicle sales experienced a growth from a depressing (-49.21%) to (62.68%), due to the base effect of the 2020 Covid-19 restrictions. See figure 2
- Extra heavy vehicle sales declined to 13 from 52 vehicles sold in June 2021, this was influenced by subdued activities for extra heavy commercial operations
- The number of passenger vehicles sold for July 2021 declined to 389 from 430 vehicles sold for June 2021, this was influenced by the lack of demand and low consumer confidence as individuals and businesses spending remains subdued
- Light commercial vehicle sales increased to 376 from 331 recorded for June 2021, this was due to improvements in light commercial operations
Outlook
- The retail sector remains subdued but the re-opening of trade conditions is anticipated to boost the transport sector.
- The consumer confidence is on the recovery path albeit at a very slow pace due to a general a decline in purchasing power.
Figure 1: Monthly Vehicle Sales (July 2020 – July 2021), Namibia
Figure 2: Year on Year, Vehicle sales growth (July 2020-July 2021), Namibia
