Namibia’s new vehicle sales contract by 93.4 percent in April

Namibia only managed to sell a total of 50 new vehicles in April, representing a 93.4 percent contraction from the 759 vehicles sold in March this year, according to data from the National Association of Automobile Manufacturers.

Namibian research firm IJG on Tuesday in an analysis said that it is likely that vehicle sales will go higher in the coming months than in April, however, it is unlikely that it will return to the levels seen in recent months and years.

“Both business and consumer confidence are extremely low at the moment as a result of the impact of the lockdown. It is unlikely that many businesses and consumers will be in a financial position to purchase new vehicles for the rest of the year,” the research firm said.

Namibia’s new vehicle sales have been under pressure in recent years as domestic economic conditions have generally been tough. The lockdown of first the Khomas and Erongo regions earlier in March, followed by the lockdown of the entire country, has brought vehicle sales to a complete standstill in the last two months, the association noted. Enditem