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RECESSION…RECOVER…RECORD SALES

RECESSION…RECOVER…RECORD SALES

Jan 10, 2020 (The Expresswire) — Recently published report on South Africa Automotive Market by Orbis Research includes market overview, detailed literature on products, services and overall industry scenario by 2026. The key categories covered in the market segmentation are region, applications and key players

Amid strong demand for automotive vehicles, several domestic and foreign OEM manufacturers are planning to expand their production bases in South Africa. The government of South Africa also prioritizes the automotive segment as a key revenue generator and is encouraging the flow of FDIs in the automotive industry.

South Africa is one of the most promising and fastest-growing automobile markets in the region. South Africa automobile industry is supported by multiple factors such as labor availability, RandD efforts, geographic advantage, and government support. With a positive outlook for the economy and greater household purchasing power, automobile sales in the country are set to witness a strong surge in sales to 2026.

New players continue to foray into the market, in particular in low price vehicle segments with the number of sales increasing at robust growth rates. Passenger cars and light commercial vehicles are also witnessing a steady increase in demand.

Cost-effective models tend to witness strong success as the majority of car buyers segment includes the middle class. Further, strong customer support and availability of cheap spare parts gain high priority for purchases in cars segment

The South Africa Automotive Market research identifies that the competition continues to intensify year-on-year with the introduction of new models and brand availability. This Analysis report covers the 2019 scenario and growth prospects of the South Africa Automotive market for 2016-2026. To calculate the market size, revenue from the market sales of Passenger cars, light commercial vehicles, and heavy commercial vehicles are considered.

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Source: https://businesstech.co.za/

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