With the spike in new vehicle sales contrasted to the past three years of the pandemic, 2022 is off to a fantastic start. An analysis of the analytics of the National Organization of Automobile Manufacturers of South Africa reveals that new vehicle sales in Namibia declined to 905 in April 2022 from 1,054 the previous month, however, increased year over year from 755 in April 2021.
Theo Klein, Simonis Tornado Economic expert, reported that the regular monthly new vehicle sales have averaged 888 this year, up from 706 in the previous 2 years and heading closer to the long-run average of 1,219. In April 2022, traveler vehicles and also light commercial vehicles (LCV) accounted for 51.5 % and 43.3 % of the completely new automobile sales, respectively. Traveler vehicle sales climbed up by 30.2 % yearly, while light business lorry (LCV) sales increased by 21.7 %, as well as medium industrial automobile (MCV) sales decreased by 15%.
In April 2022, heavy commercial expanded by 12.5%, while extra-heavy commercial fell by 56.5 %. In regards to brand-new auto sales market share in April 2022, Toyota saturated the market. Toyota had 41.5 % of the market, Volkswagen had 13.5 %, KIA, as well as Ford, had 6%, and also Suzuki as well as Nissan had 5%. (5.9 % ).
These six brands composed 78.8 % of vehicle sales in April 2022. After evaluating the rising cost of living information from the Namibia Data Firm, Klein said that his group and he discovered a moderate boost in the motor car classification. He additionally included that second-hand auto prices have periodically surpassed those of brand-new automobiles due to supply restrictions.
Likewise, in recent months, market prices of substitute components and devices and also service and repair service fees have actually increased significantly.
