Industry revenue of “manufacture of parts and accessories for motor vehicles and their engines“ in South Africa 2011-2023
South Africa houses some of the world’s biggest automotive companies including Mercedes-Benz, Nissan, BMW, Ford, and Toyota to name a few, owing to favorable government policies, low tariff rates and availability of low cost skilled labour. Vehicle and component production forms an integral part of the economy, and accounted for nearly 30 percent of the country's manufacturing output in 2018, as per the website engineeringnews.za. Revenues in this sector amounted to 13 billion U.S. dollars in 2017 and are forecast to increase steadily to over 17 billion U.S. dollars by 2023. The future augers well for the industry, as increasing number of manufacturers plan to also introduce a greater number of electric vehicles in the medium term.
Auto-exports set new records in 2018
In 2018, the South African vehicle and automotive components industry garnered record breaking revenues worth R178.8 billion, having exported parts and vehicles to over 155 destinations, compared to 149 in 2017. Overall, more than 351,000 vehicles were exported, a four percent growth year-over-year.
Auto-exports set new records in 2018
In 2018, the South African vehicle and automotive components industry garnered record breaking revenues worth R178.8 billion, having exported parts and vehicles to over 155 destinations, compared to 149 in 2017. Overall, more than 351,000 vehicles were exported, a four percent growth year-over-year.
