South Africa Autos Report Q1 2015

Business Monitor International
January 21, 2015
66 Pages - SKU: BMI5446507
Countries covered: South Africa

South Africa Autos Report Q1 2015

The near-term outlook for South African new vehicle sales remains downbeat as we enter 2015, with thelocal economy continuing to experience significant headwinds. As of end-November 2014, new vehiclesales were down by 8.6% year-on-year (y-o-y), at 550,705 units, according to data issued by the NationalAssociation of Automobile Manufacturers of South Africa (NAAMSA). For the full year 2014, BMI isestimating a fall of 9.1% took place.

Looking forward, BMI retains its view that the short-term outlook for South African new vehicle salesremains challenging. Our negative stance is backed up by weak macroeconomic fundamentals, with BMI'sCountry Risk team targeting GDP growth of 2.1% in 2015, up from an estimated 1.5% for 2014, as theconsumer sector struggles amid high unemployment and elevated interest rates. Intermittent industrialaction and power shortages will also take their toll on growth.



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