South Africa's automotive industry faces challenges

In the past two years, 12 companies in South Africa's automotive industry have closed down, leaving over 4,000 people unemployed. Low sales, an influx of imported vehicles, and low utilization of local parts are the primary reasons. Last year, domestic car sales reached only 515,000 units, far below the target of 784,000. Approximately 64% of vehicles sold are imported, with a local content rate of only 39%.