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Engine, engine part exports R2.7bn 2011 growth
According to Business Report, exports of locally manufactured automotive leather have been overtaken as the second most important vehicle component export category by engine and engine parts.
Shireen Darmalingam, a research analyst at Standard Bank, said that catalytic converters were the top performer with export sales worth R19.1 billion, a 30 percent increase over sales in 2010. Exports of locally manufactured engine and engine parts were worth R2.7bn last year and overtook exports of leather kits and parts, which were worth R2.3bn.
Darmalingam said that the National Association of Automotive Component and Allied Manufacturers reported that the component industry was continuing its steady recovery after the recession, with the value of exports increasing year on year by 18 percent last year, however, she noted, this was still 20 percent below the peak in exports reached in 2008, Business Report says.
Read the full article on www.iol.co.za.
