NAAMSA quarterly business review 1st quarter report 2019

NAAMSA quarterly business review 1st quarter report 2019

NAAMSA’s quarterly review of business conditions for the South African motor vehicle manufacturing industry, during the first 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: First Quarter 2019

  • First quarter 2019 industry employment remained stable;
  • Aggregate capital expenditure by the major vehicle manufacturers in 2018 recorded its second highest level on record at R7,247 billion;
  • Industry capacity utilisation reflected a mixed performance with passenger car capacity utilisation higher but other segments’ capacity affected by low utilization levels at two plants;
  • Domestic new passenger car sales declined but commercial vehicles performed better year on year, whilst export sales reflected substantial upward momentum during the quarter;
  • Expectations for 2019 are for the new vehicle market to continue moving sideways in the domestic market but for further export sales growth; and
  • South Africa’s share of global new vehicle production increased marginally from 0.62% in 2018 to 0.64% in 2018

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