South Africa’s Current-Account Deficit Widens to 6.8% of GDP
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- Category: Automotive
- Published on Thursday, 05 December 2013 15:18
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South Africa’s current-account deficit widened to 6.8 percent of gross domestic product in the third quarter, the biggest gap in more than five years, as a weak rand boosted import costs while strikes and subdued global demand hurt exports.
Read more: South Africa’s Current-Account Deficit Widens to 6.8% of GDP
Mahindra Group expresses confidence in Africa
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- Published on Thursday, 05 December 2013 15:11
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 Mahindra Group chairman and managing director Anand Mahindra has expressed confidence in doing business in South Africa and in the African continent.
"The fact that we are holding this very important corporate conference in Cape Town signifies the importance with which the Mahindra Group views the business potential of the African continent", Mahindra said at the two-day Blue Chip conference attended by delegates from across the globe.
South Africa's car of the year
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- Published on Thursday, 05 December 2013 15:05
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It's a long process over many months but the SAGMJ Car of the Year was named during a banquet in Johannesburg. And the winner was... as predicted by Wheels24's reader survey, the — Hyundai Elantra.
The sleek medium sedan was also voted US Car of the Year.
The Elantra is the first Korean car to be named the South Africa's "Car of the Year" though Hyundai has had two finalists — the ix35 and Sonata in 2011
Ford plans push in Middle East, Africa
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- Published on Tuesday, 19 November 2013 14:20
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Ford Motor Co. will next year create a fifth business unit that encompasses its operations in the Middle East and Africa.
The Dearborn automaker, which Tuesday will announce plans to launch 17 new or refreshed Ford and Lincoln brand vehicles in those regions during the next two years, is making a strong push to increase its market share in many of the world’s smaller auto markets.
“The Middle East and Africa is poised to become one of the next big automotive growth markets and we want to be there for these customers with great new cars and trucks,” said Stephen Odell, Ford’s president of Europe, Middle East and Africa operations, in prepared remarks at the Dubai International Motor Show.
Ford on Monday didn’t disclose profit or loss forecasts for the region, but said it expects to begin reporting financial results for the business unit — based in Dubai — at the end of 2014’s first quarter.