2014 Capital Expenditure in Automotive Industry put at R7.9 Billion
Projected aggregate capital expenditure in the automotive industry this year is put at more than R7.9 billion, according to the National Association of Automobile Manufacturers (Naamsa) Quarterly Review of Business Conditions for the 3rd Quarter of 2014.
This is nearly R4.6 million more than in 2013.
Naamsa says the aggregated data is based on capital expenditure details supplied by the seven major vehicle manufacturers and various truck producers.
It points out that a proportion of the capital expenditure originally earmarked for 2013 was carried forward to this year.
The Association explains that “the relatively high levels of capital expenditure in recent and particularly future years may be attributed in large part to investment projects by manufacturers in terms of the Automotive Production and Development Programme (APDP).
Of the R7.9 billion, the bulk (R7.2 billion) will be spent on product/local content/export investment/production facilities, with the balance going on land and buildings and support infrastructure such as IT.
Naamsa says the outlook for the sector for the balance of 2014 will “prove challenging”.
However, it adds, it has “improved modestly,” following record new sales in September.
“A domestic environment characterised by relatively low economic growth, rising interest rates and above-inflation new price increases will hold back growth.”
Naamsa says that 2014 3rd Quarter aggregate industry new car sales came in at 147 885 units which was “a marginal increase” of 179 units or 0.1% sold during the corresponding period of 2013.
Naamsa says the exports to Australasia, Europe and “increasingly” South America “showed strong improvement”.
Exports to other regions recorded “fairly substantial declines compared to the first nine months of 2013.
“With the production of the Mercedes C Class reverting to higher levels with effect from July 2014, industry export sales for the balance of 2014 should show further increases”. - MetroMinutes.
Photo courtesy of www.enca.com
In 2013, a total of 650 620 new vehicles were sold in South Africa, a 3.2% increase versus the 623 914 of 2012. Although unconfirmed at the time of going to print, it is estimated that total sales for 2014 would be in the area of 620 000 units, a decline of 5%.
One of the world’s most iconic leaders, the late Nelson Mandela, was born and educated in the Eastern Cape and he loved his birthplace so much, that despite his international credentials, he had his family home in the hamlet of Qunu
Higher Education and Training Minister Dr Blade Nzimande says there are 425 095 opportunities available to the matric class of 2014 in the country’s universities and training institutions.
The speaker of Malaysia’s Senate, Abu Zahar Ujang, said on Monday he hopes Russia will continue providing assistance in investigating the July 2014 crash of the Malaysian Boeing near Donetsk, eastern Ukraine.
The Department of Basic Education (DBE) on Sunday said the first phase of the investigation into irregularities involving mass copying in the 2014 National Senior Certificate (NSC) examination has been completed.
Carl Pistorius, brother of Paralympian, Oscar Pistorius, will be charged for reckless and negligent driving in connection with a car accident on the N1 highway near Modimolle, in which he collided head-on with another vehicle in August last year.
President Jacob Zuma has congratulated the matric class of 2014, who achieved a 75.8% pass rate.
As data volumes continue to grow at an exponential rate, the management of data has become increasingly critical to business. Understanding what data is being stored, why it is being retained, what risk this data may pose and how to unlock its value are just a few of the factors organisations need to address...
On the 10th of December, 2006, the greatest golfer of all time and designer of more than 250 signature courses around the world, joined developers, Mike Wylie and Robbie Marshall on a special lift...
In a few short weeks, 2015 will be upon is. Our technology future is bright and there’s much to look forward to in the New Year, including a desire for endpoint protection that goes above and beyond protection inside your organisation’s four walls, an increased emphasis on analytics and pressure to calm the growing Bring Your Own Application (BYOA) storm.
- 20-year-old Port Elizabeth man busted with illegal firearm
- Port Elizabeth man out on bail for business robbery busted for housebreaking
- VIDEO: Contracts involving over R40 million now part of forensic investigations at City Hall
- Senior Nelson Mandela Bay traffic official arrested for corruption and bribery
- Flight delays as SAA cabin crews embark on strike over meal allowances