Africa News of Wednesday, 18 September 2024
Source: africa.businessinsider.com
India has surpassed China as the leading source of vehicle imports into South Africa, driven by the production of small, entry-level vehicles favored by local consumers.
China holds the second spot due to its affordable car offerings.
This shift is highlighted in the BRICS+ Research Report 2024, which credits South Africa's BRICS membership for boosting its international trade relations.
While automotive exports to BRICS nations increased after South Africa joined the group, the report notes that South Africa's automotive trade with BRICS members remains less significant compared to its trade with key partners like the EU, UK, and US.