WINDHOEK; Namibian vehicle sales took a significant dip in December, falling to its lowest monthly reported figure since May 2011.
The decreases were quite broad-based, with passenger as well as commercial vehicles significantly down from November, a report issued by local financial services’ firm Simonis Storm Securities said on Monday.
A big part of the decrease can be attributed to seasonal factors, with December being a slow month for vehicle sales in general.
On a year-on-year basis, however, it was commercial vehicles, more specifically light commercial vehicles, which came in much lower than in 2011.
“New passenger vehicles sold decreased to 419 units, well below the monthly average in 2012 of 518 units. On a monthly basis, the figure decreased by 13.8 per cent from November, although stripping out the seasonality, the monthly figure was only 2.3 per cent lower than in December 2011. The figure recorded was the lowest recorded in 20 months, and remained below the four-month average of 545 units,” the report stated.
Commercial vehicle sales disappointed in December, remaining on the downward trend, which started in September last year.
Total commercial vehicle sales recorded for the month stood at 468 units, compared to the year’s monthly average of 623 units.
“The figure also represented a monthly decrease of 18.5 per cent and a year-on-year decrease of 37.4 per cent, the fourth consecutive monthly and annual decrease.
While medium and heavy commercial vehicles stayed relatively resilient, light commercial vehicles decreased 39.5 per cent from a year ago,” said the report.
The figure brought the total 2012 new vehicle sales to 13 692 units, which is 10.3 per cent higher than in 2011. Passenger vehicle sales made up 45.4 per cent of total vehicle sales during 2012, up from 42.9 per cent in 2011 and 42.5 per cent in 2010. The report said 67.1 per cent of all vehicle sales were from Windhoek.
Volkswagen and Toyota enjoyed the lion’s share of the market, representing 56 per cent of all passenger vehicle sales, followed by Chevrolet and Ford.
Total sales for 2012 amounted to 6 213 units, compared to 5 322 units sold in 2011 and 4 807 sold in 2010. Although the 12-month cumulative passenger vehicle sales stabilised in the second half of 2012, the figure was still 16.7 per cent higher than in 2011.
Toyota still dominates the light commercial vehicle space, claiming half of the entire market in 2012, while Nissan came in second place.
Chevrolet and Ford emerged as the third and fourth-placed in this category as well.
Total commercial vehicle sales for 2012 totalled 7 479 units, which translated into only a 5.5 per cent year-on-year increase, compared to 8.9 per cent in 2011.
Medium commercial vehicles sold in 2012 recorded robust growth of 29.2 per cent compared to 2011, while heavy and extra-heavy commercial vehicle sales increased 12.7 per cent (including busses).
“Light commercial vehicles disappointed, however, with the slow sales in the last couple of months dragging down total 2012 sales to only a 3.9 per cent increase over 2011, with 6 505 light commercial vehicles being sold over the year,” it indicated.