Chamwe Kaira
Namibia’s vehicle market slowed in April after a strong surge in March driven by fleet deliveries and rental sector demand, according to analysts at Simonis Storm Securities.
Total vehicle sales dropped by 20.6% month-on-month to 1 320 units in April from 1 662 units in March. Despite the decline, sales remained 5.7% higher than the 1 249 units sold in April 2025.
Simonis Storm anticipated the April slowdown following March’s record-breaking vehicle sales performance, the strongest in over a decade.
Simonis Storm said March sales were boosted by large commercial fleet orders, rental sector expansion and strong passenger vehicle demand.
“April’s print reflects the natural unwinding of that surge rather than a softening of the underlying demand impulse,” the firm said.
During the first four months of 2026, Namibia recorded total vehicle sales of 5 155 units, compared to 4 661 units during the same period last year. This represents growth of 10.6%.
Simonis Storm said this was the strongest year-to-date performance since 2018 and the best April sales figure since 2016.
Commercial vehicles continued driving the market. Sales across light, medium, heavy and extra-heavy commercial vehicle categories reached 757 units in April, up from 578 units a year earlier.
Simonis Storm said this confirms that commercial vehicle demand remains strong due to mining activity, logistics operations and infrastructure investment.
Passenger vehicle sales fell to 558 units in April after reaching a two-year high in March. Sales were down 16.7% compared to April 2025.
Simonis Storm said the decline reflected slower rental fleet and dealer activity rather than weaker household demand.
Toyota and Volkswagen, which jointly sold 535 passenger vehicles in March, recorded combined sales of 336 units in April.
The report said interest rates remain important for passenger vehicle demand. With the Bank of Namibia keeping the repo rate unchanged at 6.50%, Simonis Storm expects no further rate cuts during 2026 due to inflation risks linked to global oil prices and geopolitical tensions.
Simonis Storm expects passenger vehicle sales to range between 550 and 700 units over the next two quarters, supported by tourism and corporate fleet demand.
Among commercial vehicle categories, light commercial vehicle sales remained strong at 644 units despite declining from March levels.
Toyota Hilux sales reached 478 units, while the Ford Ranger recorded 60 units.
The extra-heavy vehicle segment recorded the strongest growth, rising to 68 units from 39 units in April last year. This represents annual growth of 74.4%.
Simonis Storm linked the increase to mining sector investment, contractor mobilisation around uranium and gold projects, and preparations linked to the planned Venus offshore oil development led by TotalEnergies.
The report also highlighted the growing presence of Chinese vehicle brands in Namibia.
Chinese and Chinese-linked manufacturers sold 218 units in April, increasing their market share to 16.5% from 13.2% in March.
Brands including Jetour, Haval, GWM, JAC, Chery, FAW and Shacman recorded notable sales across passenger and commercial vehicle categories.
Simonis Storm said Chinese brands are moving closer to capturing 20% of Namibia’s vehicle market by the end of the year, increasing competition for established Japanese and German brands.
Japanese manufacturers remained dominant with around 64% market share, largely driven by Toyota, which sold 753 vehicles across passenger and commercial categories.
German manufacturers recorded the sharpest decline, with combined sales falling 40.6% month-on-month to 126 units after Volkswagen’s strong March performance slowed.
Simonis Storm predicts that Namibia’s vehicle market closely correlates with investment activity and advancements in the mining and oil sectors.
Simonis Storm expects monthly vehicle sales to range between 1 250 and 1 500 units during the second quarter of 2026, with possible further growth later in the year if the Venus oil project receives final investment approval in August.
