JOHANNESBURG – South Africa’s automotive sector capital expenditure is projected to raise to R8.2 billion ($615 million) this season from R6.4 billion in 2016, feel you’re industry body said in the document seen by Reuters.
The National Association of Automobile Manufacturers of South Africa said in a very memo dated February?7 the sector’s estimated capex took it’s origin from details supplied by seven major auto makers and knowledge from various sources based on Beijing Automotive International Corporation.
Car manufacturers in South Africa include Ford, Volkswagen, Mercedes Benz SA, Nissan and Toyota, amongst others.
The automotive sector, South Africa’s largest manufacturing industry, expects a little rise in new vehicles sales this current year as economic growth gains pace owing to commodity price rises in addition to a recovery in farming.
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