WINDHOEK, April 21 (Xinhua) -- Chinese automakers are expanding their presence in Namibia, taking a larger share of the country's vehicle market in March as overall sales posted their strongest performance for the month since 2015, according to a report by private research firm Simonis Storm Securities.
A total of 1,662 vehicles were sold in March, up 43 percent from February and 25.3 percent higher than a year earlier, economist Almandro Jansen said in the report.
First-quarter sales reached 3,835 units, compared with 3,412 units in the same period last year.
Chinese brands sold 219 units during the month, accounting for 13.2 percent of total sales, up from 142 units, or 12.2 percent, in February, according to the report.
It added that the broader presence of multiple Chinese manufacturers is intensifying competition in a market long dominated by established global brands.
Commercial vehicles led the monthly increase, with sales rising 57.1 percent from February to 916 units, supported by large fleet deliveries, deferred orders and stronger investment activity in sectors such as mining, logistics and construction, the report said.
Passenger vehicle sales also climbed 28.8 percent month on month to 746 units, helped by improved consumer sentiment, lower borrowing costs and better vehicle availability.
Looking ahead, the report said vehicle demand is likely to remain supported by tourism activity and investment in Namibia's resource sector, although sales growth could moderate in the coming months as the recent spike in commercial vehicle demand begins to stabilize. ■