A key milestone for South Africans in 2022 was the lifting of the country’s lockdown restrictions and returning to life before the pandemic. However, as the year unfolded, several adverse events, internally and externally, caused serious downside risks for the global economy, domestic economy and the automotive industry. Although the domestic automotive industry’s recovery to pre-pandemic levels continued in 2022, it was at a slower pace than in 2021 and many key performance indicators still remained below the pre-pandemic levels. On the trade side, however, the industry reflected a sound performance as again highlighted in the 2023 Automotive Export Manual publication released by the Automotive Industry Export Council [AIEC].
The export value of vehicles and automotive components increased by R19,8 billion, or 9,5%, from R207,5 billion in 2021 to a record R227,3 billion in 2022, comprising 12,4% of total South African exports. Vehicle exports increased by 53 765 units to…
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