The National Association of Automobile Manufacturers of South Africa (Naamsa) has described 2012 as a year of “relatively solid growth” and initial estimations by the association place turnover in the new-vehicle market at about R182-billion, marking an 11% increase on the previous year’s turnover. New-vehicle export sales added a further estimated R52-billion to industry revenue for the year.

Vehicle sales in 2012 were supported by several factors, including an ongoing improvement in affordability, with average new-vehicle price increases remaining below inflation. Sales were also supported by low borrowing costs and the July 2012 reduction in interest rates provided additional support and momentum for demand.

In 2013, Naamsa expects that vehicle sales will be further supported by “the prevailing historic low interest rates, improved vehicle affordability, new model introductions and easier access for consumers to vehicle financing, as well as continued strong demand by the car rental industry”.

Creamer Media’s Automotive 2013 report examines South Africa’s major original equipment manufacturers in the context of local demand, automotive production, automotive sector support, investment, labour, trade and the environment.

This report is a summary of information published in Engineering News and information available in the public domain.

The report does not purport to provide analysis of market trends.

 

To purcase a copy of the report, click here.