By: Staff Writer
Namibia has witnessed a remarkable surge in vehicle sales in 2023, reaching the highest figures since 2017.
Between January and November, a total of 11,944 new vehicles were sold, recording an impressive performance in the sector compared to the 12,224 sold in 2017.
The notable increase comes on the heels of a boost in November, where vehicle sales experienced a year-on-year (y/y) growth of 12.4%.
This marks a significant turnaround from the four-month decline observed prior.
Moreover, month-on-month (m/m) sales registered a substantial increase of 27%, rebounding from the -12.5% m/m downturn seen in October 2023, as highlighted by economists at Simonis Storm Securities.
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