According to a PwC article, South Africa has been known to be one of the hubs for the global automotive industry. It also stated that in South Africa several well-known premium and volume automotive manufacturers produce vehicles for the local market and the rest of the world.
The automotive industry is a key contributor to the tourism sector as well, so here is a summary of the key impacts of the automotive industry on the country’s GDP.
- South Africa has 6 major vehicle manufacturers, namely: BMW, Ford, Mercedes-Benz, Nissan, Toyota and Volkswagen.
- A total of 587 000 vehicles were produced in 2017: 58% of which were exported and 42% sold locally.
- It’s direct impact on the GDP was 2.9% or R104bn.
- Direct and indirect impact on the GDP was 7.1% or R277bn.
- The automotive industry directly employs 468 502 individuals.
To see the full infographic report, click here.