five things you should know about the SA car industry
Johannesburg – The South African motor industry is holding up remarkably well in a raunchy economic environment that is being exacerbated by political turmoil, says economist Dr Azar Jammine, Director and chief economist at Econometrix.
Naamsa reported that forty five 369 models were sold locally in June 2017, an increase of four hundred eighteen units or 0.9% compared to forty four 951 vehicles sold in June 2016. Export sales at thirty one 631 vehicles, registered a build up of four hundred twenty nine units, an improvement of 1.4% compared to the thirty one 202 vehicles exported in June 2016.
Here are five things you should know about the SA car industry:
1 SA auto industry – a bright spot in the economy
Jammine says that the decline in fresh vehicle sales in latest years affected retail sellers negatively but it would provide a boost for the after-sales market as buyers would keep their vehicles for longer. This means extra maintenance and servicing.
The economist said albeit the country was technically in a recession, with negative growth for two consecutive quarters, there were some bright points in the local economy with the motor industry being one of them. Encouragement also comes from a rise in the request for electric current, a lower-than-expected inflation rate, vehicle price increases slowing, the price of fuel falling, a big improvement in the motor industry trade balance and a brighter outlook for the global economy.
Two Largest vehicle market in Africa
He noted that South Africa remained the fattest vehicle market in Africa, accounting for 37% of fresh vehicle sales on the continent. North African countries Egypt, Morocco, Algeria, Tunisia, and Libya followed it. Interestingly, the island of Reunion, in seventh place, recorded more fresh vehicle sales (27 697) than eighth-placed Nigeria (20 000), which had been seen as Africa’s powerhouse, but is now battling with a big downturn in its economy as the oil price stays comparatively low.
Three Unemployment – a major challenge for SA
Jammine said that unemployment remained a major challenge for economic growth in South Africa, while services continued growing swifter than manufacturing, which provided proportionately more jobs.
He said: “Another inhibiting economic growth factor is the fact that education in South Africa has been found wanting, with very poor results in terms of learners matriculating with good marks for maths and science. Only one learner in forty gets a matric with a maths mark of 60% or higher.
“Albeit the effect of the downgrade by the ratings agencies have not been unduly dramatic yet, they will obviously influence on future investment decisions as does the current political turmoil, which is affecting business confidence negatively.”
Four Fresh vehicles sales – Growth expected
The Econometrix Chief Economist said he expects fresh vehicle sales to stir into “a growth phase” in 2018, while the vehicle manufacturing industry continued to grow its share within overall manufacturing and as a contributor to the gross domestic product (GDP).
He added that the local motor industry remained a very significant player in terms of exports from South Africa of built-up vehicles, automotive components and replacement parts which was good news for the overall health of the industry.
Automotive exports enlargened 80.3% from two thousand twelve to 2016, while the rate of imports was slower with an increase of 48.7%. This had resulted in a significant drop in the motor industry’s trade deficit over the past five years, going from R42.3-billion in two thousand twelve to R32.9-billion in 2016.
The biennial Automechanika Johannesburg trade fair for the automotive aftermarket will be held at the Expo Centre from September 27-30.
In 2017, it will be co-located with Futuroad, a truck, bus and trailer display and Scalex, a trade fair for transport systems, infrastructure, and logistics solutions.
2017 Automechanika Johannesburg at a glance:
Venue: Johannesburg Expo Centre
Cnr Nasrec and Rand Display Roads, Nasrec, Johannesburg
Five things you should know about the SA car industry, Wheels24
five things you should know about the SA car industry
Johannesburg – The South African motor industry is holding up remarkably well in a rough economic environment that is being exacerbated by political turmoil, says economist Dr Azar Jammine, Director and chief economist at Econometrix.
Naamsa reported that forty five 369 models were sold locally in June 2017, an increase of four hundred eighteen units or 0.9% compared to forty four 951 vehicles sold in June 2016. Export sales at thirty one 631 vehicles, registered a build up of four hundred twenty nine units, an improvement of 1.4% compared to the thirty one 202 vehicles exported in June 2016.
Here are five things you should know about the SA car industry:
1 SA auto industry – a bright spot in the economy
Jammine says that the decline in fresh vehicle sales in latest years affected retail sellers negatively but it would provide a boost for the after-sales market as buyers would keep their vehicles for longer. This means extra maintenance and servicing.
The economist said albeit the country was technically in a recession, with negative growth for two consecutive quarters, there were some bright points in the local economy with the motor industry being one of them. Encouragement also comes from a rise in the request for violet wand, a lower-than-expected inflation rate, vehicle price increases slowing, the price of fuel falling, a big improvement in the motor industry trade balance and a brighter outlook for the global economy.
Two Thickest vehicle market in Africa
He noted that South Africa remained the thickest vehicle market in Africa, accounting for 37% of fresh vehicle sales on the continent. North African countries Egypt, Morocco, Algeria, Tunisia, and Libya followed it. Interestingly, the island of Reunion, in seventh place, recorded more fresh vehicle sales (27 697) than eighth-placed Nigeria (20 000), which had been seen as Africa’s powerhouse, but is now battling with a big downturn in its economy as the oil price stays comparatively low.
Trio Unemployment – a major challenge for SA
Jammine said that unemployment remained a major challenge for economic growth in South Africa, while services continued growing quicker than manufacturing, which provided proportionately more jobs.
He said: “Another inhibiting economic growth factor is the fact that education in South Africa has been found wanting, with very poor results in terms of learners matriculating with good marks for maths and science. Only one learner in forty gets a matric with a maths mark of 60% or higher.
“Albeit the effect of the downgrade by the ratings agencies have not been unduly dramatic yet, they will obviously influence on future investment decisions as does the current political turmoil, which is affecting business confidence negatively.”
Four Fresh vehicles sales – Growth expected
The Econometrix Chief Economist said he expects fresh vehicle sales to stir into “a growth phase” in 2018, while the vehicle manufacturing industry continued to grow its share within overall manufacturing and as a contributor to the gross domestic product (GDP).
He added that the local motor industry remained a very significant player in terms of exports from South Africa of built-up vehicles, automotive components and replacement parts which was good news for the overall health of the industry.
Automotive exports enlargened 80.3% from two thousand twelve to 2016, while the rate of imports was slower with an increase of 48.7%. This had resulted in a significant drop in the motor industry’s trade deficit over the past five years, going from R42.3-billion in two thousand twelve to R32.9-billion in 2016.
The biennial Automechanika Johannesburg trade fair for the automotive aftermarket will be held at the Expo Centre from September 27-30.
In 2017, it will be co-located with Futuroad, a truck, bus and trailer display and Scalex, a trade fair for transport systems, infrastructure, and logistics solutions.
2017 Automechanika Johannesburg at a glance:
Venue: Johannesburg Expo Centre
Cnr Nasrec and Rand Demonstrate Roads, Nasrec, Johannesburg
Five things you should know about the SA car industry, Wheels24
five things you should know about the SA car industry
Johannesburg – The South African motor industry is holding up remarkably well in a raunchy economic environment that is being exacerbated by political turmoil, says economist Dr Azar Jammine, Director and chief economist at Econometrix.
Naamsa reported that forty five 369 models were sold locally in June 2017, an increase of four hundred eighteen units or 0.9% compared to forty four 951 vehicles sold in June 2016. Export sales at thirty one 631 vehicles, registered a build up of four hundred twenty nine units, an improvement of 1.4% compared to the thirty one 202 vehicles exported in June 2016.
Here are five things you should know about the SA car industry:
1 SA auto industry – a bright spot in the economy
Jammine says that the decline in fresh vehicle sales in latest years affected retail sellers negatively but it would provide a boost for the after-sales market as buyers would keep their vehicles for longer. This means extra maintenance and servicing.
The economist said albeit the country was technically in a recession, with negative growth for two consecutive quarters, there were some bright points in the local economy with the motor industry being one of them. Encouragement also comes from a rise in the request for electro-therapy, a lower-than-expected inflation rate, vehicle price increases slowing, the price of fuel falling, a big improvement in the motor industry trade balance and a brighter outlook for the global economy.
Two Largest vehicle market in Africa
He noted that South Africa remained the thickest vehicle market in Africa, accounting for 37% of fresh vehicle sales on the continent. North African countries Egypt, Morocco, Algeria, Tunisia, and Libya followed it. Interestingly, the island of Reunion, in seventh place, recorded more fresh vehicle sales (27 697) than eighth-placed Nigeria (20 000), which had been seen as Africa’s powerhouse, but is now battling with a big downturn in its economy as the oil price stays comparatively low.
Trio Unemployment – a major challenge for SA
Jammine said that unemployment remained a major challenge for economic growth in South Africa, while services continued growing quicker than manufacturing, which provided proportionately more jobs.
He said: “Another inhibiting economic growth factor is the fact that education in South Africa has been found wanting, with very poor results in terms of learners matriculating with good marks for maths and science. Only one learner in forty gets a matric with a maths mark of 60% or higher.
“Albeit the effect of the downgrade by the ratings agencies have not been unduly dramatic yet, they will obviously influence on future investment decisions as does the current political turmoil, which is affecting business confidence negatively.”
Four Fresh vehicles sales – Growth expected
The Econometrix Chief Economist said he expects fresh vehicle sales to stir into “a growth phase” in 2018, while the vehicle manufacturing industry continued to grow its share within overall manufacturing and as a contributor to the gross domestic product (GDP).
He added that the local motor industry remained a very significant player in terms of exports from South Africa of built-up vehicles, automotive components and replacement parts which was good news for the overall health of the industry.
Automotive exports enlargened 80.3% from two thousand twelve to 2016, while the rate of imports was slower with an increase of 48.7%. This had resulted in a significant drop in the motor industry’s trade deficit over the past five years, going from R42.3-billion in two thousand twelve to R32.9-billion in 2016.
The biennial Automechanika Johannesburg trade fair for the automotive aftermarket will be held at the Expo Centre from September 27-30.
In 2017, it will be co-located with Futuroad, a truck, bus and trailer display and Scalex, a trade fair for transport systems, infrastructure, and logistics solutions.
2017 Automechanika Johannesburg at a glance:
Venue: Johannesburg Expo Centre
Cnr Nasrec and Rand Demonstrate Roads, Nasrec, Johannesburg
Five things you should know about the SA car industry, Wheels24
five things you should know about the SA car industry
Johannesburg – The South African motor industry is holding up remarkably well in a raunchy economic environment that is being exacerbated by political turmoil, says economist Dr Azar Jammine, Director and chief economist at Econometrix.
Naamsa reported that forty five 369 models were sold locally in June 2017, an increase of four hundred eighteen units or 0.9% compared to forty four 951 vehicles sold in June 2016. Export sales at thirty one 631 vehicles, registered a build up of four hundred twenty nine units, an improvement of 1.4% compared to the thirty one 202 vehicles exported in June 2016.
Here are five things you should know about the SA car industry:
1 SA auto industry – a bright spot in the economy
Jammine says that the decline in fresh vehicle sales in latest years affected retail sellers negatively but it would provide a boost for the after-sales market as buyers would keep their vehicles for longer. This means extra maintenance and servicing.
The economist said albeit the country was technically in a recession, with negative growth for two consecutive quarters, there were some bright points in the local economy with the motor industry being one of them. Encouragement also comes from a rise in the request for violet wand, a lower-than-expected inflation rate, vehicle price increases slowing, the price of fuel falling, a big improvement in the motor industry trade balance and a brighter outlook for the global economy.
Two Fattest vehicle market in Africa
He noted that South Africa remained the fattest vehicle market in Africa, accounting for 37% of fresh vehicle sales on the continent. North African countries Egypt, Morocco, Algeria, Tunisia, and Libya followed it. Interestingly, the island of Reunion, in seventh place, recorded more fresh vehicle sales (27 697) than eighth-placed Nigeria (20 000), which had been seen as Africa’s powerhouse, but is now battling with a big downturn in its economy as the oil price stays comparatively low.
Trio Unemployment – a major challenge for SA
Jammine said that unemployment remained a major challenge for economic growth in South Africa, while services continued growing swifter than manufacturing, which provided proportionately more jobs.
He said: “Another inhibiting economic growth factor is the fact that education in South Africa has been found wanting, with very poor results in terms of learners matriculating with good marks for maths and science. Only one learner in forty gets a matric with a maths mark of 60% or higher.
“Albeit the effect of the downgrade by the ratings agencies have not been unduly dramatic yet, they will obviously influence on future investment decisions as does the current political turmoil, which is affecting business confidence negatively.”
Four Fresh vehicles sales – Growth expected
The Econometrix Chief Economist said he expects fresh vehicle sales to stir into “a growth phase” in 2018, while the vehicle manufacturing industry continued to grow its share within overall manufacturing and as a contributor to the gross domestic product (GDP).
He added that the local motor industry remained a very significant player in terms of exports from South Africa of built-up vehicles, automotive components and replacement parts which was good news for the overall health of the industry.
Automotive exports enhanced 80.3% from two thousand twelve to 2016, while the rate of imports was slower with an increase of 48.7%. This had resulted in a significant drop in the motor industry’s trade deficit over the past five years, going from R42.3-billion in two thousand twelve to R32.9-billion in 2016.
The biennial Automechanika Johannesburg trade fair for the automotive aftermarket will be held at the Expo Centre from September 27-30.
In 2017, it will be co-located with Futuroad, a truck, bus and trailer display and Scalex, a trade fair for transport systems, infrastructure, and logistics solutions.
2017 Automechanika Johannesburg at a glance:
Venue: Johannesburg Expo Centre
Cnr Nasrec and Rand Demonstrate Roads, Nasrec, Johannesburg
Five things you should know about the SA car industry, Wheels24
five things you should know about the SA car industry
Johannesburg – The South African motor industry is holding up remarkably well in a rough economic environment that is being exacerbated by political turmoil, says economist Dr Azar Jammine, Director and chief economist at Econometrix.
Naamsa reported that forty five 369 models were sold locally in June 2017, an increase of four hundred eighteen units or 0.9% compared to forty four 951 vehicles sold in June 2016. Export sales at thirty one 631 vehicles, registered a build up of four hundred twenty nine units, an improvement of 1.4% compared to the thirty one 202 vehicles exported in June 2016.
Here are five things you should know about the SA car industry:
1 SA auto industry – a bright spot in the economy
Jammine says that the decline in fresh vehicle sales in latest years affected retail sellers negatively but it would provide a boost for the after-sales market as buyers would keep their vehicles for longer. This means extra maintenance and servicing.
The economist said albeit the country was technically in a recession, with negative growth for two consecutive quarters, there were some bright points in the local economy with the motor industry being one of them. Encouragement also comes from a rise in the request for electrical play, a lower-than-expected inflation rate, vehicle price increases slowing, the price of fuel falling, a big improvement in the motor industry trade balance and a brighter outlook for the global economy.
Two Thickest vehicle market in Africa
He noted that South Africa remained the fattest vehicle market in Africa, accounting for 37% of fresh vehicle sales on the continent. North African countries Egypt, Morocco, Algeria, Tunisia, and Libya followed it. Interestingly, the island of Reunion, in seventh place, recorded more fresh vehicle sales (27 697) than eighth-placed Nigeria (20 000), which had been seen as Africa’s powerhouse, but is now battling with a big downturn in its economy as the oil price stays comparatively low.
Trio Unemployment – a major challenge for SA
Jammine said that unemployment remained a major challenge for economic growth in South Africa, while services continued growing quicker than manufacturing, which provided proportionately more jobs.
He said: “Another inhibiting economic growth factor is the fact that education in South Africa has been found wanting, with very poor results in terms of learners matriculating with good marks for maths and science. Only one learner in forty gets a matric with a maths mark of 60% or higher.
“Albeit the effect of the downgrade by the ratings agencies have not been unduly dramatic yet, they will obviously influence on future investment decisions as does the current political turmoil, which is affecting business confidence negatively.”
Four Fresh vehicles sales – Growth expected
The Econometrix Chief Economist said he expects fresh vehicle sales to stir into “a growth phase” in 2018, while the vehicle manufacturing industry continued to grow its share within overall manufacturing and as a contributor to the gross domestic product (GDP).
He added that the local motor industry remained a very significant player in terms of exports from South Africa of built-up vehicles, automotive components and replacement parts which was good news for the overall health of the industry.
Automotive exports enhanced 80.3% from two thousand twelve to 2016, while the rate of imports was slower with an increase of 48.7%. This had resulted in a significant drop in the motor industry’s trade deficit over the past five years, going from R42.3-billion in two thousand twelve to R32.9-billion in 2016.
The biennial Automechanika Johannesburg trade fair for the automotive aftermarket will be held at the Expo Centre from September 27-30.
In 2017, it will be co-located with Futuroad, a truck, bus and trailer display and Scalex, a trade fair for transport systems, infrastructure, and logistics solutions.
2017 Automechanika Johannesburg at a glance:
Venue: Johannesburg Expo Centre
Cnr Nasrec and Rand Demonstrate Roads, Nasrec, Johannesburg