The listing of WeBuyCars on the JSE this morning made me wonder a bit about the global car industry. It was great to see a nice big listing on the JSE — something we haven’t seen very often. But of course, the listing is really, as far as I can see, an attempt to ensure that Transaction Capital’s problems don’t drag down the profitable side of the business, so WeBuyCars has been spun out..
producing about two million cars a year, about a third less than Canada. This was roughly five times what SA was producing at the time., producing 18 million cars that year, Japan has held its position, still selling about 10 million cars, and the US is now third, selling a little less than eight million. SA, by the way, produced 470,000 cars that year. India is also by now seriously on the scene, building 3.5-million cars that year.
SA, by the way, has actually recorded a respectable increase in production, if you look at it in a decade-to-decade way SA has to find a way to move with the times, make cars cheaper, and adopt electrification; it’s just better for the consumer and better for the environment. My colleague Don Pinnock has just done aHonestly, isn’t this exactly the kind of thing they are supposed to do? A colleague of mine actually drove the car, and said the build quality wasn’t great, but the drive-train of the car was just superb.
Imagine we now had a 2 million car pa EV production capacity or more in SA if the IDC has just properly supported the Joule. And knock on high tech ability in battery design, beneficiation of raw materials used in batteries etc
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