JOHANNESBURG Feb 13 South Africa's automotive
sector capital expenditure is projected to rise to 8.2 billion
rand ($615 million) this year from 6.4 billion rand in 2016, the
auto industry body said in a document seen by Reuters.
The National Association of Automobile Manufacturers of
South Africa said in a memo dated Feb. 7 that the sector's
estimated capex was based on details supplied by seven major car
makers and data from various sources relevant to Beijing
Automotive International Corporation.
Car manufacturers in South Africa include Ford,
Volkswagen, Mercedes Benz SA, Nissan
and Toyota, among others.
The automotive sector, South Africa's largest manufacturing
industry, expects a slight increase in new vehicles sales this
year as economic growth gains pace thanks to commodity price
rises and a recovery in farming.
($1 = 13.3433 rand)
(Reporting by Olivia Kumwenda-Mtambo; Editing by James