Absa has entered into a vehicle finance alliance agreement with BAIC SA, the local subsidiary of the Beijing Automotive Group Co, as the vehicle manufacturing firm expands its operations in the region.
BAIC SA launched in South Africa in 2016 and has made structural investments in our country, including a state-of-the-art manufacturing and assembly plant in the Coega Industrial Development Zone, near Gqeberha.
For Absa, the alliance represents an opportunity to boost its share of financed vehicles sold in the country as the popularity of affordable luxury brands continues to grow among South Africans. BAIC’s luxury category vehicle Beijing X55, launched locally on 15 November 2022, is a finalist in the South African Guild of Mobility Journalists’ 2023 ‘SA Car of the Year’ award.
The successful launch of its vehicle models, together with a dealer network of 29, has laid a solid foundation for BAIC SA’s expansion.
“We are honoured to partner with an automotive player that has invested in the growth of our continent and has aligned with our values as a purpose-led pan-African bank. We look forward to leveraging off each other’s strengths to drive greater competition in the market and to deliver better value for our customers,” says Charl Potgieter, Managing Executive: Absa Vehicle and Asset Finance.
As a full-value bank, Absa will partner with the automotive manufacturer to offer comprehensive financing options to help fuel BAIC SA’s growth in operations and offer attractive credit solutions to customers. Both BAIC and Absa will stay close to customers and our industry – dealer partners, vehicle importers and manufacturers – to deliver value for the industry.
“There is an increase in the sale of China’s automotive brands in our market, and this is also the case with BAIC-manufactured vehicles, as it prepares to take on competitors locally,” Charl says.
“South African consumers have come to appreciate the growing trend in affordable luxury-branded vehicles and expect more “bang for their buck” when buying a new or used vehicle during these tough economic times. This alliance answers the call from the South African consumer on many levels.”
With three models available locally, BAIC SA has many opportunities to diversify its offering throughout the value chain. Groupwide, Absa is committed to offering BAIC various services that will allow each entity to reach our growth ambitions.
Isuzu Motors South Africa is positioning itself to become the primary manufacturing centre for commercial trucks across the African continent, a strategic move that could significantly boost production volumes while increasing the use of locally sourced components.
Audi South Africa has introduced the new Audi A5 Sedan in South Africa. With a refined design, intelligent technology and ample performance, it brings a fresh alternative to the midsize segment.
iCAUR will officially be taking its inaugural step into the South African spotlight at this year’s Festival of Motoring in Kyalami at the end of August.
Advertisement
Advertisement
If you are not taking care of your customer, your competitor will.
Bob Hooey
Isuzu Motors South Africa is positioning itself to become the primary manufacturing centre for commercial trucks across the African continent, a strategic move that could significantly boost production volumes while increasing the use of locally sourced components.
In a move that’s turning heads across the transport industry, Kiara Baijnath (photo), the founder and director of HerWay Logistics, is redefining what it means to be a woman in trucking by adding another pink Mercedes-Benz Actros 2645 to her fleet.
The Automotive Business Council (naamsa) recently submitted its quarterly review of business conditions for the South African motor vehicle manufacturing industry, during the second quarter of 2025, to the Department of Trade, Industry and Competition (DTCI).
