More articles in this category
Top Stories

A 34-year-old Namibian male accused of defrauding Standard Bank of N$4 million during the time when he worked in its Trust Account Division in Win...

As the country continues to reel from an orgy of murders and violence against women, two men from Mariental appeared separately in the Windhoek Hi...

Namibian Police (NamPol) services were rated poorly by the Office of the Prime Minister, chief of police Inspector General Sebastian Ndeitunga sai...

In another latest development in the controversial “Shoprite house”, an Oshakati based worker got fired yesterday by her superiors aft...

The murder case of Cathy Gatonje is still playing out in court as her family patiently wait to see justice done and yesterday, the suspected murde...

A total of 1 771 San community members have been registered and received national documents during the Mass San Community mobile registration in O...

Other Articles from The Villager

Vehicle sales increase in May- Simonis Storm

19/06/2018
by Staff Writer
Business

According to Simonis Storm Securities, vehicle sales increased by 11.3% month on month to 918 units in May 2018 after a massive drop of 27.8% reported in the prior month. 

The uptick was mainly supported by light commercial vehicles which increased by 110 units (+27.7%) in May (Table 1). 

This comes after light commercial vehicle fell 31% in April. Despite the monthly increases observed in May, vehicles sales remain below the 10-year average of 1 240 units. 

New vehicle sales stood at 4 805 units at the end of May 2018, lower than 5 536 units recorded over the same period in 2017, 13.2% decrease.

“To boost car sales, we have observed numerous special schemes such as the 6 months payment holiday and prime less 4% on new car sales. This is our view indicates the lack of spending by consumers in the new motor vehicle space and this is evident in the low instalment credit (-5.1% y-o-y). Tough economic conditions are set to prevail in the second half of 2018, putting more pressure on the motor vehicle industry,” says the firm’s Indileni Nanghonga.