WeBuyCars on the road to expansion
- Industry News
- 20 November 2024
Dealer industry news from around Southern Africa
The rate of increase in new vehicle prices declined to 3.8% in the third quarter of this year from 7.6% in the same quarter in 2020, according to the latest TransUnion SA Vehicle Pricing Index.
Bakkies are playing an important role in the driving price growth in the used vehicle market, according to data released by automotive portal Cars.co.za and car pricing experts getWorth.
Mahindra will officially take over all tractor and farm equipment operations in South Africa.
The new vehicle market and vehicle exports were negatively impacted in October 2021 by the three-week strike in the steel and engineering sector and the return of an acute load-shedding programme, according to automotive business council, Naamsa.
South Africa’s automotive industry is “not out of the woods yet”.
Maserati has announced the appointment of Hamdy Elshantoury as the new General Manager for Middle East and Africa region succeeding Domenico La Marte.
Toyota South Africa Motors (TSAM) has commenced production of the new Corolla Cross, which includes South Africa’s first locally produced volume hybrid electric vehicle.
A significant 35% of households expect their expenditure on large purchases, such as cars and appliances, to “decrease a lot” over the next three months, according to the latest TransUnion quarterly survey on the current and future impact of COVID-19 on household budgets, spending and debt.
The Minister of Trade, Industry and Competition (dtic), Ebrahim Patel, visited Isuzu’s Eastern Cape vehicle manufacturer’s production facilities in Struandale, Gqeberha and met with the President and CEO, Billy Tom and Isuzu senior leadership to discuss key priorities relating to the business.
Nissan will start assembling semi-knocked down kits of the new Navara in Ghana next year, but Nigeria is on hold due to a delays in implementing its auto policy. The CKD kits come from Rosslyn.ry.
The worldwide semiconductor chip shortage is not news to anyone involved in the auto industry. However, there does not seem to be an end in sight, at least not as far as new vehicle production goes.
National new vehicle sales levels are substantially behind those of the past decade, and the return of abundant supply will expose the lack of customers who can afford to purchase a vehicle, says Combined Motor Holdings (CMH) CEO, Jebb McIntosh.
The auto industry can expect the largest price hike in diesel and illuminating paraffin in South Africa’s history before the end of 2021.
Advertisement
Advertisement
You can't build a reputation on what you are going to do.
Henry Ford