Andrew Kirby, CEO of Toyota South Africa, sounded the alarm about the country's impending deindustrialization during a recent seminar. He emphasized the urgent need for government intervention, pointing to the rising sales of imported vehicles compared to locally manufactured ones and a decline in component localization.
Toyota South Africa CEO Andrew Kirby warned that the country is entering a phase of deindustrialisation, which requires urgent government intervention.
In the late 1990s, South Africa and Thailand’s automotive sectors were comparable in size and key metrics. These policies, which were flexible yet consistent, prioritised consumer demand-linked production and component localisation. He said the deindustrialisation was evidenced by heightened sales of imported vehicles relative to cars made in South Africa.
He suggested that the Thai policies of making locally assembled vehicles attractive to consumers were key in South Africa.
Deindustrialisation Automotive Industry Government Intervention Thailand Model South Africa
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa needs to aim higher: CEOBusiness Unity South Africa (BUSA) says the country needs to rethink policies to deal with its many challenges, and aim to be more than a middle-of-the-road economy.
Read more »
Investors wary of South Africa rally: Standard Bank CEOSouth African assets have rallied in recent months, yet the head of the country’s biggest bank still sees a cautious approach among many foreign investors.
Read more »
South Africa’s new R4 billion bridge – set to be the tallest in AfricaSANRAL is making progress on its R20 billion N2 Wild Cost Road programme, with the SOE investing R250 million into the Mtentu Bridge.
Read more »
Africa: South Africa Needs More Nautical Scientists and Maritime EngineersAnalysis - When most people are asked to picture an engineer at work, they probably imagine a civil engineer in a hard hat at a construction site, a chemical engineer in a laboratory or an electrical engineer examining a complex circuit board. Very few, I'm willing to bet, visualise someone aboard a ship.
Read more »
Ramaphosa Meets Musk, Discusses Investment Opportunities in South Africa as Starlink Expands Across AfricaSouth African President Cyril Ramaphosa met with Elon Musk at the United Nations General Assembly to discuss investment opportunities in South Africa. Meanwhile, Starlink, Musk's satellite internet constellation, is expanding its reach across Africa, now available in eight countries including eSwatini, Botswana, Mozambique, Nigeria, and Zambia.
Read more »
South Africa tops list for the highest prison population in AfricaSince 2000, the prison population in Africa has increased by 53%. Here are the top 10 African countries with the highest prison populations.
Read more »