Latest news with #SA-manufactured
IOL News
4 days ago
- Automotive
- IOL News
South Africa's vehicle exports to US decimated by Trump's tariffs
South Africa's vehicle exports to the United States have dropped dramatically Image: Supplied South Africa's vehicle exports to the United States have dropped dramatically following the imposition of US tariffs, with declines of 73% in the first quarter of 2025, and further falls of 80% and 85% in April and May, respectively. This is according to the Automotive Business Council (Naamsa), which said that the sudden collapse in exports threatens one of "South Africa's most globally integrated industries" and poses a serious risk to jobs, investment. Earlier this year, US President Donald Trump imposed a 25% tariff on all vehicles imported into the US and has since upped the ante on South Africa, informing President Cyril Ramaphosa last week that South Africa will be hit with a 30% tariff on all its exports to the United States from August 1. "The announcement and anticipation of the recent tariffs have had a devastating and immediate impact on trade performance, even before the formal effect of the tariffs," the industry body said. "Vehicle exports to the U.S. dropped by 73% in Q1 2025, followed by a further decline of 80% and 85% in April and May, respectively. This represents a risk of a direct loss of vehicle and component export volumes, and annual export earnings, which would be difficult to recover in the short term". The US has been South Africa's largest trading partner and "key export destination for SA-manufactured vehicles". "Since the inception of the African Growth and Opportunity Act [AGOA], the automotive industry has benefited from substantial two-way trade and investment. "In 2024, the auto sector accounted for 64% of all AGOA trade between South Africa and the U.S., generating R28.6 billion in export revenue, with 24,681 vehicles exported to the United States under AGOA". Naamsa CEO Mikel Mabasa warned that the tariffs are not just a trade issue but a socio-economic crisis in the making. 'This is not just a trade issue - it's a socio-economic crisis in the making. The U.S. tariffs directly threaten thousands of jobs in our sector, disrupt hard-won industrial capabilities, and risk devastating communities such as East London, where the auto sector forms the economic heartbeat of the town. If we cannot retain export markets like the U.S., we risk turning vibrant industrial hubs into ghost towns.' Mabasa said He added that the ripple effects of production loss due to disappearing export markets will be felt across the entire automotive value chain. 'Export diversification and finding new markets is not something that can be achieved overnight. Our global competitors are already redirecting their exports into markets we traditionally serve. This intensifies the pressure on our OEMs, who must now absorb rising costs, reduce production, and reconsider future investments,' added Mabasa. IOL News [email protected] Get your news on the go, click here to join the IOL News WhatsApp channel
The Citizen
27-04-2025
- Automotive
- The Citizen
SA Safari Rally set to make motorsport history
SA will make motorsport history when the country hosts round three of the SA Safari Rally from May 18 to 24. The event is part of the prestigious World Rally-Raid Championship (W2RC). The inaugural event, presented by event partner Toyota Gazoo Racing, is no ordinary event. It's a global spotlight moment – and SA is ready to shine. 'This is a defining moment for motorsport in SA,' said Vic Maharaj, the CEO of Motorsport South Africa. 'It's about more than racing. It's about showcasing our talent, terrain and ability to deliver world-class events. With SA-manufactured cars making up more than half of the field, a testament to our engineering excellence and deep motorsport roots, having the event on our home ground for the first time is exciting. We believe this could open doors to even bigger opportunities, including F1, in the future.' Anton Roux, the chairperson of Motorsport South Africa, concurred, 'This event has the potential to pave the way for many more international motorsport events in SA. It is most probably the largest international event SA has hosted since the last Formula 1 was held at Kyalami in 1993.' 'With entries closing at the end of April, the lineup of top local and international participants is growing, and fans can expect to see some of the biggest names in international rally-raid on local soil,' said Archie Rutherford, the CEO of SA Rally Raid Championship. Exciting news for South Africans is the inclusion of Ross Branch, Botswana's homegrown FIM W2RC champion and fan favourite 'Kalahari Ferrari', riding with Hero Motorsports. Dakar Rally legend Giniel de Villiers will come out of retirement to be part of #TeamHiluxRallyRaid for the next two seasons. 'Having Giniel on board is like adding a turbocharger to our team. He brings unmatched experience and passion to the track,' said teammate Fouché Blignaut. Nasser Al-Attiyah and Edouard Boulanger are expected to be part of the event. But Al-Attiyah will face some stiff local competition. Bracing up are the young guns from Toyota Gazoo Racing South Africa, Saood Variawa and Guy Botterill, Neil Woolridge, Motorsport's (Neil Woolridge Motorsport) Gareth Woolridge and 2023 SA Rally Raid Champion and Century Racing's Brian Baragwanath. From Sun City to the desert dunes, the W2RC route will test the best of the best in a uniquely African setting. 'This is the moment we've worked so hard for. The world is watching – and we're almost ready,' concluded Rutherford. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
26-04-2025
- Automotive
- The Citizen
All eyes on SA Safari Rally from May 18 to 24
All eyes on SA Safari Rally from May 18 to 24 SA will make motorsport history when the country hosts round three of the SA Safari Rally from May 18 to 24. The event is part of the prestigious World Rally-Raid Championship (W2RC). The inaugural event, presented by event partner Toyota Gazoo Racing, is no ordinary event. It's a global spotlight moment – and SA is ready to shine. 'This is a defining moment for motorsport in SA,' said Vic Maharaj, the CEO of Motorsport South Africa. ALSO READ: Saint Stithians' Saints SportsFest closes with a bang 'It's about more than racing. It's about showcasing our talent, terrain and ability to deliver world-class events. 'With SA-manufactured cars making up more than half of the field, a testament to our engineering excellence and deep motorsport roots, having the event on our home ground for the first time is exciting. We believe this could open doors to even bigger opportunities, including F1, in the future.' Anton Roux, the chairperson of Motorsport South Africa, concurred, 'This event has the potential to pave the way for many more international motorsport events in SA. It is most probably the largest international event SA has hosted since the last Formula 1 was held at Kyalami in 1993.' 'With entries closing at the end of April, the lineup of top local and international participants is growing, and fans can expect to see some of the biggest names in international rally-raid on local soil,' said Archie Rutherford, the CEO of SA Rally Raid Championship. ALSO READ: Saint Stithians' Saints SportsFest closes with a bang Exciting news for South Africans is the inclusion of Ross Branch, Botswana's homegrown FIM W2RC champion and fan favourite 'Kalahari Ferrari', riding with Hero Motorsports. Dakar Rally legend Giniel de Villiers will come out of retirement to be part of #TeamHiluxRallyRaid for the next two seasons. 'Having Giniel on board is like adding a turbocharger to our team. He brings unmatched experience and passion to the track,' said teammate Fouché Blignaut. Nasser Al-Attiyah and Edouard Boulanger are expected to be part of the event. But Al-Attiyah will face some stiff local competition. Bracing up are the young guns from Toyota Gazoo Racing South Africa, Saood Variawa and Guy Botterill, Neil Woolridge, Motorsport's (Neil Woolridge Motorsport) Gareth Woolridge and 2023 SA Rally Raid Champion and Century Racing's Brian Baragwanath. From Sun City to the desert dunes, the W2RC route will test the best of the best in a uniquely African setting. 'This is the moment we've worked so hard for. The world is watching – and we're almost ready,' concluded Rutherford. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
