https://www.engineeringnews.co.za
Automotive|Business
Automotive|Business
automotive|business

More bad news than good for auto industry in Q1

9th June 2023

By: Irma Venter

Creamer Media Senior Deputy Editor

     

Font size: - +

WHILE the first quarter of the year saw new-vehicle sales inch up from the same time last year, domestic vehicle production, exports and employment all moved into negative territory.

This is according to the first- quarter business review of the automotive industry, published by Naamsa | The Automotive Business Council.

The report notes that first-quarter new-vehicle sales inched up 1.6% over the same quarter in 2022. However, passenger-car sales were down, as were heavy-truck sales.

Some good news is that hybrid and electric vehicle sales increased by 18.8% in the first quarter, up from 1 401 units in the first quarter of 2022, to 1 665 units in the first quarter of this year.

The first quarter also saw new-vehicle exports decline by 4%, to 84 811 units, compared with the 88 363 units exported in the same quarter last year.

Domestic vehicle production also dropped by 1.1%, compared with the corresponding quarter last year.

Naamsa reports that employment at vehicle manufacturers declined by 85 jobs, to 33 392, compared with employment numbers at the end of 2022.

Employment at vehicle importers also saw a decline of 208 jobs, to 7 402, compared with the end of last year.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Comments

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.137 0.189s - 169pq - 2rq
Subscribe Now