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Naamsa Quarterly Review of Business Conditions | Automotive Sector 3rd Quarter, 2019

Naamsa Quarterly Review of Business Conditions | Automotive Sector 3rd Quarter, 2019

QUARTERLY REVIEW OF BUSINESS CONDITIONS: NEW MOTOR VEHICLE MANUFACTURING INDUSTRY / AUTOMOTIVE SECTOR: 3RD QUARTER 2019

Attached, for information purposes, is a copy of NAAMSA’s quarterly review of business conditions for the South African motor vehicle manufacturing industry, during the third quarter of 2019, as submitted to the Director-General, Department of Trade and Industry.

Industry vehicle sales, export and import statistics for 2000 through 2018, together with current projections for 2019, are reflected on the attachment to the submission.

Key features: Third Quarter 2019

Third quarter 2019 industry employment reflected an increase of 361 jobs to reach 30 479 positions at end September 2019.

Industry capacity utilisation levels continue to reflect the prevailing business conditions in the various industry segments in terms of domestic and export sales but some vehicle segments’ capacity was affected by low utilization levels at two plants.

Aggregate capital expenditure by the major vehicle manufacturers in 2018 recorded its second highest level on record at R7,247 billion

The high-volume passenger car and light commercial vehicle segments declined year-on-year but the low volume medium and heavy commercial vehicle segments reflected some resilience with year-on-year increases, whilst export sales continued to reflect substantial upward momentum during the quarter.

Expectations for 2019 are for the new vehicle market to contract in correlation with the weak macroeconomic climate in the country, but for export sales growth to continue.

South Africa’s global vehicle production ranking remained at 22nd in the world in 2018, with a market share of 0,64%, increasing marginally from 0,62% in 2017.

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