just now

    • S/ Sudan- Uganda launch one-stop border post

      APA-Juba (South Sudan) — South Sudan’s Undersecretary Ministry of Trade, Industries and EAC Affairs, Mou Mou Athian Kuol vowed that his country would play a critical role for trade between both countries t...

    • Cameroon recover to beat Mali in AWCON opener

      APA-Accra (Ghana) — The female national team of Cameroon on Saturday night made a spirited performance after coming from behind to defeat Mali 2-1 in the second Group A game of the ongoing African Wom...

    • UNISFA’s Abyei mandate extended

      APA (Juba) South Sudan — The UN Security Council has adopted a resolution extending the mandate of the United Nations Interim Security Force for Abyei (UNISFA) until 15 May 2019.

    Namibia-Economic

    Namibia vehicle sales rebound in May

    APA-Windhoek (Namibia)

    Namibia’s vehicle sales for May 2018 rose 11.3% to 918 units after a massive decline of 27.8% reported in the prior month, financial firm Simonis Storm Securities said on Thursday.

    Meameno Johannes, an economist at the brokerage and investment advisory firm observed that the uptick was mainly supported by light commercial vehicles which increased by 110 units or +27.7% in May.

    “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 1240 units,” says Johannes.

    New vehicle sales stood at 4805 units at the end of May 2018, lower than 5536 units recorded over the same period in 2017 - a 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 Johannes.


    AT/as/APA

    React to this article