Passenger Car Market in South Africa
Market Overview
In 
, the South African passenger car market increased by % to $, rising for the third year in a row after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $. From 2012 to , the growth of the market failed to regain momentum.
In value terms, passenger car production declined to $ in estimated in export price. Over the period under review, the total production indicated a modest expansion from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2016 indices. The most prominent rate of growth was recorded in 2016 with an increase of % against the previous year. Over the period under review, production attained the peak level at $ in 2008; however, from 2009 to , production failed to regain momentum.
, the South African passenger car market increased by % to $, rising for the third year in a row after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $. From 2012 to , the growth of the market failed to regain momentum.In value terms, passenger car production declined to $
in estimated in export price. Over the period under review, the total production indicated a modest expansion from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2016 indices. The most prominent rate of growth was recorded in 2016 with an increase of % against the previous year. Over the period under review, production attained the peak level at $ in 2008; however, from 2009 to , production failed to regain momentum.Consumption
In , after three years of growth, there was decline in consumption of passenger cars, when its volume decreased by -% to units. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak volume of units. From 2016 to , the growth of the consumption failed to regain momentum.
The size of the passenger car market in South Africa fell slightly to $ in , waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $. From 2012 to , the growth of the market failed to regain momentum.
, after three years of growth, there was decline in consumption of passenger cars, when its volume decreased by -% to units. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak volume of units. From 2016 to , the growth of the consumption failed to regain momentum.The size of the passenger car market in South Africa fell slightly to $
in , waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $. From 2012 to , the growth of the market failed to regain momentum.Market Forecast
Depressed by shrinking demand for passenger car in South Africa, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to units by the end of .
In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to depress the market volume to units by the end of .In value terms, the market is forecast to contract with an anticipated CAGR of -
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.
, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.Trade Balance
South Africa remains a net importer of passenger car; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a trade deficit of units, which was equal to $. Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.
. In , there was a trade deficit of units, which was equal to $. Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.
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