Truck Market in South Africa
Market Overview
The South African truck market declined remarkably 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 pronounced setback. Truck consumption peaked at $ in 2014; however, from 2015 to , consumption failed to regain momentum.
In value terms, truck production declined sharply to $ in estimated in export price. In general, the total production indicated a mild increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against indices. The most prominent rate of growth was recorded in 2009 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in 2014; however, from 2015 to , production remained at a lower figure.
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 pronounced setback. Truck consumption peaked at $ in 2014; however, from 2015 to , consumption failed to regain momentum.In value terms, truck production declined sharply to $
in estimated in export price. In general, the total production indicated a mild increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against indices. The most prominent rate of growth was recorded in 2009 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in 2014; however, from 2015 to , production remained at a lower figure.Consumption
In , consumption of trucks in South Africa dropped remarkably to units, declining by -% on the previous year's figure. Overall, consumption continues to indicate a pronounced decline. Truck consumption peaked at units in 2014; however, from 2015 to , consumption remained at a lower figure.
The value of the truck market in South Africa shrank significantly to $ in , declining 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). Over the period under review, consumption continues to indicate a perceptible decline. Truck consumption peaked at $ in 2014; however, from 2015 to , consumption stood at a somewhat lower figure.
, consumption of trucks in South Africa dropped remarkably to units, declining by -% on the previous year's figure. Overall, consumption continues to indicate a pronounced decline. Truck consumption peaked at units in 2014; however, from 2015 to , consumption remained at a lower figure.The value of the truck market in South Africa shrank significantly to $
in , declining 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). Over the period under review, consumption continues to indicate a perceptible decline. Truck consumption peaked at $ in 2014; however, from 2015 to , consumption stood at a somewhat lower figure.Market Forecast
Depressed by shrinking demand for truck 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
Over the period under review, the share of imports in terms of total truck consumption in South Africa was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the South Africa truck market is largely supplied by domestic manufacturers. 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.
% figure. In value terms the share of imports also stood at a low figure, which means that the South Africa truck market is largely supplied by domestic manufacturers. 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.Trade Balance
South Africa remains a net exporter of truck; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of units, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
. In , there was a significant trade surplus of units, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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