South Africa’s vehicle manufacturing industry has a projected, cumulative, record capital expenditure (capex) budget of R7.92-billion for 2014, said the National Association of Automobile Manufacturers of South Africa (Naamsa) on Tuesday.
The association stated in its first quarter business review that this figure was significantly up from 2013’s number of R4.35-billion, and the 2012 number of R4.68-billion.
“A proportion of the capital expenditure originally earmarked for 2013 has been carried forward to 2014,” noted the report.
Naamsa said the data was based on capex details supplied by South Africa’s seven major vehicle manufacturers and various truck producers.
The association in its report also published data from the Automotive Export Manual 2014, compiled by Dr Norman Lamprecht.
According to this, vehicle and component exports increased by 8.2%, from R94.9-billion in 2012, to R102.7-billion in 2013.
This was the first time the industry exceeded the R100-billion mark.
Right-hand-, as well as left-hand-drive vehicles and automotive components were exported to 152 countries last year.
The local industry’s top export markets in value terms were Germany, receiving R19.1-billion in exports, followed by the US, at R18.7-billion.
Vehicle and component imports into South Africa in 2013 were valued at R126.7-billion.
South Africa imported vehicles and components to the value of R46-billion from Germany, and R21.8-billion from Japan.
India supplied the largest number of new vehicles to South Africa in 2013, at 95 964 new passenger cars and light commercial vehicles, followed by South Korea, at 59 806 units.
Imports from India mainly consisted of small, more affordable cars, including the Toyota Etios, Ford Figo, Nissan Micra and Hyundai i10.
The automotive industry accounted for about 30% of South Africa’s manufacturing output, said Naamsa.
Although South Africa was responsible for 72% of Africa’s new vehicle production in 2013, the industry remained relatively small in the global context, and was ranked twenty-fourth in respect of global vehicle manufacturing, with a global market share of 0.63%.
In 2013, consumers could choose between 51 brands and 2 295 passenger car model derivatives on the South African market.