Brics partners are dragging down South Africa’s motor industry trade balance
South African politicians may be cosying up to Russia and its alleged war criminal president, Vladimir Putin, but the local motor industry’s relationship with the country is anything but blossoming. Vehicle and export components to Russia have collapsed since it invaded Ukraine last year.
Russia and South Africa, of course, are both members of Brics, the alliance of emerging economies that also includes China, Brazil and India. Both Asian countries had major growth in light vehicle exports to South Africa — China from to 21,5176 to 34,939 and India from 129,364 to 165,910. They were the major contributors to an overall 23.5% increase in South African vehicle imports in 2022 — from 262,281 to 323,800. India alone contributed 51.2% of all imports, and China 10.8%. Imports accounted for 80% of all South African car sales in 2022, and 23.5% of bakkies.
Some of these came from India, which has become an important manufacturing hub for many of the world’s leading brands, particularly for budget-friendly entry-level vehicles. Toyota, Suzuki, Volkswagen and Ford are among companies manufacturing there.
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