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Europe’s economic problems slow vehicle exports

July 4 2012 at 05:00am
By Roy Cokayne

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Exports of locally made vehicles increased by 7 percent to 27 061 units last month from cars exported in June last year.

Vehicle export sale forecasts for this year were revised downwards in April by the National Association of Automobile Manufacturers of South Africa (Naamsa) to 270 000 from its original prediction of 300 000 units because of the economic problems in Europe.

Nico Vermeulen, Naamsa’s executive director, said yesterday that momentum of industry export sales should improve over the balance of the year as various car export programmes were ramped up. This referred to the ramping up of the Ford global compact vehicle export programme and exports of BMW’s new 3-Series. However, Vermeulen stressed that overall the industry’s export performance would rely on the direction of the global economy.

There remained uncertainty on the extent of the potential effect of economic turbulence in Europe and softer growth in other global markets, although this could be offset by higher exports to Africa and Australia. – Roy Cokayne


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