Toyota leads as Chinese brands gain ground
Toyota continues to dominate the market overall, although Chinese brands such as Jetour and Shacman are steadily gaining ground, underscoring an increasingly competitive landscape across both passenger and commercial segments. Overall, the first seven months of 2026 point to a resilient vehicle market, supported by solid underlying demand even as fuel costs and levy changes […] The post Toyota leads as Chinese brands gain ground appeared first on The Namibian .
Toyota continues to dominate the market overall, although Chinese brands such as Jetour and Shacman are steadily gaining ground, underscoring an increasingly competitive landscape across both passenger and commercial segments.
Overall, the first seven months of 2026 point to a resilient vehicle market, supported by solid underlying demand even as fuel costs and levy changes introduce fresh headwinds into the second half of the year.
According to an analysis by IJG Securities, new vehicle sales edged higher in July, with 1 535 units sold, an increase of 12 units from June’s 1 523 (+0.8% month on month (m/m)).
“Annual sales rose by 16.6% year on year (y/y), and on a year-to-date (YTD) basis, 9 380 units have been sold, a 12.6% increase compared to the same period in 2025. This is still the highest recorded YTD figure since 2019,” the analysts say.
Passenger vehicle sales extended June’s rebound, increasing by a further 47 units (+6.6% m/m) to 755 units from 708 units in June, the highest monthly passenger vehicle sales figure since July 2015.
“On an annual basis, passenger vehicle sales rose by 24.8% y/y, while YTD sales increased by 9.4% y/y to 4 334 units. The gap between passenger and commercial vehicle sales narrowed sharply to just 25 units (755 versus 780), from 107 units in June,” the analysts say.
For commercial vehicles, sales pulled back in July, easing by 35 units to 780 units (-4.3% m/m; +9.6% y/y), following two consecutive months of robust growth.
On a YTD basis, commercial vehicle sales reached 5 046 units (+15.7% y/y), still largely driven by light commercial vehicle sales, which rose 14.3% YTD to 4 358 units, even as light commercial volumes eased by 27 units (-3.8% m/m) to 681 units in July.
Medium commercial vehicle sales fell by 10 units in July to 18 vehicles (-35.7% m/m; -28.0% y/y), giving back June’s gains, while heavy commercial vehicles (including extra-heavy and bus) continued to hold near multi-year highs, rising to 81 units (+2.5% m/m; +22.7% y/y, compared to 66 units in July 2025).
“On a YTD basis, heavy commercial sales are up 39.3% y/y to 507 units, while medium commercial sales have slipped 1.1% y/y to 181 units, the only segment in negative territory on a YTD basis,” the analysts say.
The report adds that Toyota remains firmly in control of the two largest segments, holding just over half the YTD passenger car market (50.9% share) and two-thirds of the light commercial vehicle segment (66.9% share).
Volkswagen holds the clear number two spot in passenger vehicles at 14.3%, while the cluster of Chinese entrants continues to build share – Jetour (6.1%) edged ahead of Haval (6.0%) for third place in July, with Chery (2.7%) close behind.
“In the light commercial vehicle segment, Ford with 399 units, 9.2%; and Isuzu (4.9%) remain the closest challengers to Toyota, with Volkswagen (4.2%), JAC (3.6%) and GWM (2.8%) filling out the rest of the top six,” IJG Securities notes.
The medium commercial segment shows a similar pattern, led by Toyota (42.0%), followed by Mercedes-Benz (17.7%) and Hino (17.1%) – now separated by less than a percentage point – and FAW (11.6%).
“In the heavy commercial vehicle segment, Toyota again barely features, with the segment led by Powerstar at 19.3% and Scania at 16.4%. Shacman has been the standout mover, climbing to third place with a 15.0% share (from 11.0% in June), overtaking Hino (12.8%) and closing in on Scania, followed by Volvo Trucks (8.7%) and FAW (8.3%),” the analysts add. – e-mail: matthew@namibian.com.na.
