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Staff, 5:36 pm
Poor power supply is partly to blame for the Nigerian government’s inability to build a robust auto industry. That leaves vehicle imports as one of the only ways to meet local demand. Nigeria’s auto market is worth over $4 billion a year, but it does not translate into anything meaningful, a stakeholder said. Starting in 2015, stiff new tariffs were levied on new and used Nigerian vehicle imports. Imports fell more than 50 percent.
Dana Sanchez, 11:41 am
Europe’s largest automaker is expanding in Africa, hoping to open an auto assembly plant in Rwanda and also pilot ride-hailing and car sharing services. VW’s move into “app-based integrated mobility” in Rwanda is significant for two reasons. It’s happening in an African city and it’s a new business model for future urban mobility. Rwanda does not have an established vehicle industry and Uber hasn’t entered the market yet. VW isn’t just competing with Uber. Other ride-hailing services are looking for new markets in Africa.
Dana Sanchez, 1:28 pm
Ethiopia has the world’s second-lowest vehicle-to-population ratio — two vehicles per 1,000 people. The government is geared for industrialization, and Ethiopia is the African economy that is most similar and arguably likely to replicate China’s development successes, says Deloitte. Four countries in North and South Africa account for 80 percent of new car sales in Africa. Here’s how that’s likely to change.
Dana Sanchez, 9:06 am
More than half a million vehicles are made in South Africa each year, contributing 7% of economic output. South Africa sees automotive as a key growth sector and is investing heavily in it. Auto firms take advantage of lower production costs and growing access to new trade markets such as other African countries, which are increasingly buying car components made in South Africa.
Dana Sanchez, 12:28 pm
Ford Motor Company will start assembling Ford Ranger pickup trucks in Nigeria in 2015 as part of its Africa expansion. You can’t actually buy a Ford ranger pickup truck in the U.S., to the chagrin of fans. The Ranger is built and sold all around the world — except N. America. Nigeria will be the first African country outside South Africa where Ford vehicles are produced. Global sales of the Ranger increased 40 percent in 2014.
Staff, 11:34 am
Toyota Tsusho has announced plans to expand its vehicle assembling plant in Kenya. Toyota Tsusho CEO Jun Karube said a company team will look into the prospects of the multi-million shilling investment billed to significantly transform Kenya’s motor vehicle industry at a meeting in Kenya in April.
Dana Sanchez, 10:39 am
The Mustang — it’s a status symbol, a global icon — at least according to its maker, Ford Motor Co., and it’s coming to Nigeria, VenturesAfrica reports. The 2015 Mustang made its debut this month in South Africa. But Ford has to navigate Nigeria’s automotive policy which advocates local production and discourages imports of vehicles made entirely in other countries. The policy puts pressure on auto makers like Ford to set up assembly or manufacturing plants in Nigeria.
Makula Dunbar, 12:34 pm
President Jacob Zuma is Thursday expected to officially open the First Automotive Works (FAW) South Africa assembly plant in an industrial development zone at the Nelson Mandela Bay Metro in Eastern Cape province. The more than US $60-million truck assembly plant is funded jointly by China FAW Group Corporation and the China-Africa Development Fund.
Kevin Mwanza, 5:47 am
Samsung Electronics plans tap into a growing demand for smartphones by a growing middle class in Africa to sell half of the smartphones bought on the continent this year and double that amount in 2014, reported Moneyweb. Africa has a growing young population that is increasingly tech savvy and urbanized. This is attracting foreign sellers of […]
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