Namibia’s vehicle market accelerates in February

February brought a welcome acceleration in Namibia's vehicle market, with a total of 1 165 units sold during the month, according to Simonis Storm Research. This represents a 4.1% year-on-year increase from 1 119 units in February 2025 and a 15.9% rise compared to January’s 1 005 units, marking the strongest February outturn since 2016.

Year-to-date volumes now stand at 2 170 units, 4.1% above the corresponding period last year, suggesting that the seasonal softness typically associated with the start of the year has largely run its course and that underlying demand conditions remain intact.

The passenger segment was the standout performer, rising to 582 units from 495 in January, a 17.6% month-on-month gain, and up 13.9% year-on-year from 511 units in February 2025. This growth reflects the cumulative effect of monetary easing in 2025, lower borrowing costs, improved affordability, better vehicle availability, and a tentative recovery in consumer sentiment, indicating that the passenger market is entering a more supportive phase.

Commercial vehicles

Commercial vehicles showed a more nuanced picture. Volumes rebounded 14.3% from 510 units in January to 583 units in February, but remained 3.8% lower than the 606 units sold a year ago. This divergence points to an active but measured business sector, with commercial volumes continuing to serve as a leading indicator of broader economic momentum, particularly given Namibia’s investment-heavy pipeline. Sectoral demand was driven by logistics, mining, agriculture, and energy services, while future construction activity in uranium, gold, and copper mining, as well as offshore oil and gas exploration, could further support medium and heavy commercial vehicle demand. Looking closer at commercial sub-categories, light commercial vehicles accounted for 503 units, 6.9% below last year. Medium commercial vehicles fell 4.0% to 24 units, whereas heavy commercial vehicles doubled to 18 units, and extra-heavy vehicles rose 16.7% to 35 units. Bus sales increased to 3 units from 1 in February 2025. Rental companies notably stepped up, purchasing 82 units (7.04% of total sales) versus 32 units in January, reflecting early fleet positioning ahead of the 2026 tourism season, while dealership sales made up the remaining 1 083 units (92.96%). The government recorded no purchases, consistent with fiscal consolidation and capital budget constraints.

Building brands

In terms of brand dynamics, Japanese manufacturers retained their dominant market position with 728 units sold (62.5% share), led by Toyota at 622 units, anchored by the Hilux. Suzuki added 34 units, maintaining a strong presence in the passenger and light utility segment. Chinese brands rose to 142 units (12.2% share), with Haval leading at 31 units and Jetour surging fivefold to 27 units from 5 in January. Other Chinese players included GWM (23 units), Chery (14), JAC (21), and Foton/LDV (18). German brands recovered to 141 units (12.1% share), driven by Volkswagen at 104 units, followed by Mercedes-Benz (24), BMW (8), and Audi (3). Ford sold 75 units (6.4% share), holding steady month-on-month. Indian brands also gained momentum, tripling to 33 units, with Mahindra at 28 and Eicher recording 3 units in the heavy commercial segment. New entrants are reshaping Namibia’s market landscape, with Jetour, Omoda, Jaecoo, LDV, and Eicher steadily gaining traction across passenger and commercial segments. Meanwhile, South Korean brands Hyundai and KIA saw combined sales fall to 5 units, highlighting growing competitive pressure from both above and below the market spectrum. Overall, February’s figures point to a vehicle market gaining traction. Passenger demand benefits from monetary easing, commercial volumes remain resilient despite annual softness, and the rental segment is beginning to stir. Month-to-month fluctuations are expected, but the broader trajectory is positive, with further upside linked to infrastructure-led investment and continued momentum in tourism-related activity.