The National Association of Automobile Manufacturers of South Africa (NAAMSA) says the destructive higher stages of load shedding have an amplified negative impact on vehicle production and component manufacturing in South Africa.
NAAMSA’s new vehicles statistics indicate that the new vehicle market started the year on a positive but weak note with low sales on new vehicles.
NAAMSA notes that the same challenges that confronted the economy and the automotive industry in 2022, such as persistent load shedding, high inflation and interest rates, as well as currency depreciation have been carried over into 2023.
The report notes that most new vehicles were sold through dealers, followed by the vehicle rental industry.
NAAMSA reported a 1.8 percent decline in vehicle export sales numbers in January 2023 compared to January last year.