Namibia: New Vehicle Sales Show Ongoing Decline in Passenger and Commercial Demand

Research and investment company IJG recently released its new vehicle sales analysis report which shows that 995 new vehicles were sold in August, an 8.2% y/y decrease compared to last year and a 14.3% m/m decline from the 1,161 units sold in July.

The report revealed that year-to-date (YTD) 8,472 new vehicles have been sold, 168 less than the 8,640 sold during the same period in 2023. A total of 12,361 vehicles were sold over the past 12 months by the end of August, although this figure has…