Car Sales Dip


By Desie Heita


Total sales of new passenger cars during April went down 12 percent from the previous month as consumers feel the tightening squeeze of the cumulative effect of interest rate increases and pressure on disposable income due to rising energy, food and fuel costs, as well as negative consumer sentiment and business confidence.

However, the wealthier members of society seem not to be under pressure as they spent more than N$250 million on a handful of exotic cars, such as Ferrari and Lamborghini, in the month of April alone.

While the middle class struggled to purchase ordinary passenger vehicles, such as Toyota, Nissan, Hyundai, during the month of April, the cr??????’??


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