The SA motor industry’s trade surplus was cut almost in half last year despite record earnings from exports of vehicles and components. The additional income was outweighed by a flood of imported vehicles, mainly from India and China.

Figures released on Friday by the Automotive Industry Export Council (AIEC) show that the industry exported a record R227.3bn of vehicles and components in 2022, a 9.5% improvement on the previous year’s R207.5bn. However, the value of imports grew nearly 24% to R207.7bn...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.