Browsing: Auto industry in South Africa

With the world steadily evolving to a more digital and eco-friendly era, many organizations have sought better ways to grow and consolidate their market. South Africa has recently caught the eye of many investors due to ongoing innovation and competitive government policies. However, Electricity rations have left the economy reeling, hurting many companies’ operations.

In the latest developments, South African battery manufacturer AutoX Proprietary Limited received ample support from Ecobat, which sold all its subsidiary businesses. This move represents an opportunity to scale for AutoX and highlights the country’s prevailing business environment.…

Africa’s automotive market size is expected to grow from 1,325.89 thousand units in 2023 to 1,777.69 thousand units by 2028, at a CAGR of 6.04 per cent, during the forecast period between 2023 and 2028. According to a recent report by the Globe Newswire, the market is expected to reach the pre-Covid demand rates from customer industries only in the second half of 2023. This is because the African automotive market was severely affected by the Covid -19 pandemic.…