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- In Tanzania, TVS Motor Unveils TVS HLX 125 with 5-Gears
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- Tanzanian auto enthusiasts are enticed by Mercedes-Benz
- Toyota plans to set up a vehicle manufacturing plant in Kenya
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- How Africa is set to blow past the rest of the world on electric motorcycles
- Inchcape Launches Changan Auto In Kenya
- Autoexpo Kenya to be held in Nairobi in 2024
Automakers seen investing $615 mn in South Africa this year
OHANNESBURG: South Africa's automotive sector capital expenditure is projected to rise to 8.2 billion rand ($615 million) this year from 6.4 billion rand in 2016, the auto industry body said in a document seen by Reuters.
The National Association of Automobile Manufacturers of South Africa said in a memo dated February 7 that the sector's estimated capex was based on details supplied by seven major car makers and data from various sources relevant to Beijing Automotive International Corporation.
Car manufacturers in South Africa include Ford, Volkswagen, Mercedes Benz SA, Nissan and Toyota, among others.
The automotive sector, South Africa's largest manufacturing industry, expects a slight increase in new vehicles sales this year as economic growth gains pace thanks to commodity price rises and a recovery in farming.
Posted on : 22 Nov,2024 | News Source : ABNews
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