Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

VW boosts SA investment

Jun 17 2010 14:58 Svetlana Doneva

Related Articles

VWSA wins big export contract

Volkswagen SA to invest R3.3bn

VW to unveil R230m parts centre in SA

Volkswagen income falls 86%

VW to invest R650m in SA

VW: 100 000 jobs until end 2014

 

Top Stories

Financial mess 'unintended', says Nedbank

Feb 12 2012 15:59

Moral hazard, financial weapons of mass destruction, a huge mess - these were the words used by a founder member to sum up the collapse of the Pinnacle Point Group.

Construction looks to more graft

Feb 12 2012 15:58

Construction companies are now undertaking a second round of self-examination into uncompetitive behaviour.

Merkel 'taking Europe in wrong direction'

Feb 12 2012 14:54

American billionaire George Soros has slammed German Chancellor Angela Merkel, warning that her policies could lead to a repeat of the Great Depression.

 
Share Share line Print

ohannesburg - Volkswagen South Africa (VWSA) has unveiled a R230m distribution centre in Centurion and announced a commitment to spend a further R500m on production facilities in South Africa.

Volkswagen CEO Martin Winterkorn said that South Africa was key in the German-based company's ambitious plan to become the biggest automotive group, measured by sales, in the world by 2018.    

VWSA's new parts distribution plant will replace the existing facility in Roodekop, which will be closed down. All staff will be relocated to Centurion, where they will be retrained to handle the newer and more sophisticated logistics system. 

The plant measures 26 000m2 and can be expanded by another 18 000m2.

This facility is part of the R4bn VWSA has invested in South Africa over the past two years. The bulk of these investments has been at the company's manufacturing hub, Uitenhage.

"We have also created 1 000 new jobs through our activities," said Winterkorn, who addressed media and stakeholders at the plant's official opening in Centurion on Thursday.

"A further 600 jobs have been created by five new suppliers stationed at the Nelson Mandela Bay Logistics Park," he said.

VWSA plans to double its local production volumes in 2010 to 120 000. About two-thirds of these cars are destined for the export market.

VWSA already has a strong grip on the passenger car market thanks to the new Polo and the entry level Polo Vivo, which was South Africa's top-selling passenger car in May, according to the National association of Automobile Manufacturers SA (Naamsa).

The company now plans to increase its reach and gain market share over key competitor Toyota in the light commercial vehicle sector through the introduction of the Amarok - VWSA's first attempt at the one ton pick-up product.

Amaroks are being manufactured in Argentina and will be available in South Africa in the final quarter of 2010. The vehicle is positioned directly against the current market leader - Toyota's Hilux. 

Local content boost

Meanwhile, Trade and Industry Minister Rob Davies commended the company for increasing the locally manufactured content in South African-assembled vehicles to over 70%, from the historic 40%.

"This is of great significance; it's exactly the direction we want the industry to move," said Davies.

Low local content levels in South African-manufactured cars is one of the biggest challenges facing the viability of the automotive industry.

Deputy President Kgalema Motlanthe said that while higher levels of local content were "encouraging", the industry still has a way to go when it comes to empowerment, skills training and procurement of supplies from black-owned entreprises.

VWSA MD Dave Powels, who is also Naamsa president, said the industry was aware of these shortfalls and would endeavour to find solutions.

The government's recently introduced industrial plan - the Automotive Production and Development Programme (APDP) - offers numerous incentives to manufacturers which raise their local component ratios.    
 
The APDP also includes incentives to attract automotive investment in South Africa, as opposed to other burgeoning markets in South America and Asia.

Three major automotive manufacturers, including VW, have announced investment plans in South Africa to the combined value of R9bn over the past 18 months.

"None of these investments happened by accident," said Davies. "Most of them happened in anticipation of the APDP."

 - Fin24.com

 

 
 
Comment on this story
1 comment
Add your comment
Comment 0 characters remaining
Facebook still a closed book in China
Feb 08 2012 16:59

Mark Zuckerberg wants to ''friend'' China's massive market but how far is he prepared to go, and against what competition?

Attie

Whilst doing my regular book browsing at Exclusive Books just before Christmas 2011 a book with the simple title “My Book” caught my eye. Paging through the book I saw nothing else but wild life photographs with accompanying quotations by either the author or another well-known person. ... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...