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Motor manufacturing industry invested R8.8bn in SA in 2021

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A total of R8.8 billion was invested in South Africa by the major vehicle manufacturers in 2021, the second highest level on record after the record R9.23 billion invested in 2020. Moneyweb MotorIndustry

A total of R8.8 billion was invested in South Africa by the major vehicle manufacturers in 2021, the second highest level on record after the record R9.23 billion invested in 2020. This was disclosed in the quarterly review of business conditions in the vehicle manufacturing industry and automotive sector for the fourth quarter of 2021, released by automotive business council Naamsa on Tuesday.

4 billion by the automotive component sector in 2020 “Investment at this scale is significant and will promote local value-addition, while importantly, technology is also embodied in the investment,” it said. Economist Mike Schüssler said the automotive sector is the best manufacturing sub-sector by far for getting investment. “Outside of our natural heritage [mining and agriculture], the motor industry is by far the biggest attractor of greenfield production.

 

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So little... but thanks to the SA tax payer that funds the entire motor industry in SA

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