17
Nov
Toyota remains the leader in the Namibian automotive industry, accounting for 50 percent of total sales. Volkswagen follows with a meagre 11 percent of the market share, while Ford accounts for 7 percent. Consumer demand for Toyota vehicles outperform the market, mainly due to its reliability and longevity aspects which are cheered by market participants, according to Simonis Storm Securities. Since the start of the year, vehicle sales have fared comparative, even exceeding pre-pandemic levels. Despite the current downward trend, influenced by financial constraints of households, Simonis Storm has maintained a positive outlook for 2024. The tourism sector, fostering a…