Weak rand buoys vehicle export market

CONTINUED RAND weakness is being eyed by the South African motor industry as its greatest ally at present. While home-based vehicle sales have fallen, the export market is booming.
The continued weak rand
will further boost the industry's exports of components and built-up vehicles, says Nico Vermeulen, director of the National Association of Automobile Manufacturers of South Africa (Naamsa).
Exports of vehicles were 77,3% higher in the first five months of the year compared to the same period last year. A total of 10 693 units left the country from January to end May. Last year's figure for the same period totalled 6 207.
The main contributor to the increase was passenger vehicle exports, which rose 174,6% to 7 181 units in the first four months alone, compared with 2 615 units in the same period last year.