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NAAMSA quarterly business review report: 4th quarter 2018

NAAMSA quarterly business review report:  4th quarter 2018

QUARTERLY REVIEW OF BUSINESS CONDITIONS: NEW VEHICLE MANUFACTURING INDUSTRY / AUTOMOTIVE SECTOR: 4TH QUARTER 2019

Below, for information purposes, is a copy of NAAMSA’s quarterly review of business conditions for the South African motor vehicle manufacturing Industry, during the fourth 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 projections for 2019 through 2020, are reflected on the attachment to the submission.

Key features: Fourth Quarter 2018

After six years of stability in industry headcount, fourth quarter 2018 industry employment registered a decline in employment of 781 jobs

Record aggregate investment by the major vehicle manufacturers in 2017 amounted to R8.17 billion and estimated actual investment in 2018 was R7.24 billion

Capacity utilisation in the various vehicle manufacturing segments registered a mixed picture with the new car and heavy commercial segment virtually unchanged from the previous quarter, an improvement in light commercial production capacity utilisation and a decline in medium
commercial manufacturing

Domestic new vehicle sales declined, year on year, whilst export sales momentum reflected further improvement with the exception of the low volume medium and heavy truck segments

Expectations for 2019 are little or no growth in domestic sales, whilst annual export sales numbers should register fairly strong growth of 10% to 15% in volume terms

Medium to long term prospects for new vehicle exports and domestic production remain positive – particularly strong vehicle export sales are expected over the medium to long term

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