Motor industry achieves record trade surplus of over R48bn
Export council executive manager Norman Lamprecht says the motor industry remains a key driver of SA’s broader manufacturing economy
The SA motor industry achieved a record R48.2bn trade surplus in 2020 despite Covid-19 playing havoc with traditional trade patterns. Exports of automotive components also set new highs.
The surplus, based on trade in new vehicles and components, blew away the previous record of R27.1bn set in 2019. Industry-wide import and export values both crashed in 2020 but the fall in imports was more severe – R47.1bn, from R174.6bn to R127.5bn...