Transformative

Meeting 60% local content goal would transform economy, create 49 000 jobs.

- Irma Venter

Achieving 60% local content on vehicles assembled in South Africa will make a significant impact on the South African economy, including the creation of 49 000 new jobs and an additional R68-billion in gross domestic product, says Automotive Masterplan lead and B&M Analysts chairperson Dr Justin Barnes.

Speaking at the National Association of Automotive Component and Allied Manufacturers of South Africa (Naacam) show held in Durban earlier in this month, he said an Automotive Masterplan was at an “advanced stage of development” and that more concrete details would be shared over the coming weeks.