By Monika Kristof
Executive summary
- Namibia’s vehicle sales increased to 843 vehicles for June 2021 from 792 vehicles sold for May 2021.See figure 1
- An increase in vehicles sales for June 2021 was mainly driven by high sales of passenger vehicles and extra heavy vehicles
- Light commercial vehicle sales recorded a decline for June 2021 when compared to the previous month
- A total number of 4883 vehicles were sold during the first half of 2021 compared to 3517 vehicles sold during the same period of 2020
- On a 12 months cumulative basis between June 2020 to June 2021 a total of 9745 vehicles were sold for Namibia compared to 9572 vehicles sold for the period of June 2019 to June 2020
Analysis
- On an annual basis vehicle sales experienced a skyrocketing growth from a depressing (-50.81%) to (77.22%), due to the base effect of the depressing lockdown of 2020. See figure 2
- The number of passenger vehicle sales sold for June 2021 increased to 430 from 360 vehicles sold for May 2021, this was influenced by the upturn in demand and consumer confidence
- Extra heavy vehicle sales increased to 52 from 33 vehicles sold in May 2021, this was due to the improvement in trading condition
- Light commercial vehicle sales declined to 331 from 371 recorded for May 2021 ,this was due to the continuous slow recovery in light commercial operations
Outlook
- The economic outlook remains subdued but the improvement and adjustment to the trading conditions is 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 (June 2020 – June 2021), Namibia
Figure 2: Year on Year, Vehicle sales growth (June 2020-June 2021), Namibia
