A new report by the Bureau for Economic Research (BER) on Tuesday indicated that exports of automotives have increased significantly from India and China in recent years.
A new report by the Bureau for Economic Research (BER) has highlighted how rapidly rising vehicle imports from China and India are reshaping South Africa’s automotive market, intensifying pressure on local manufacturers while giving increasingly cash-strapped consumers access to more affordable vehicles.
The report, authored by economist Rose Murunzi, found that lower-priced vehicles from the two Asian economies have significantly expanded consumer choice in a market where affordability has become a dominant concern.
According to the report, lower priced vehicles from both markets have expanded consumer choice and improved affordability in an economy where households have become increasingly price-sensitive.
The report noted that South Africa currently accounts for only 0.64% of global vehicle production, ranking 21st globally, with ambitions to increase that share to 1% by 2035.
