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FAW Trucks Southern Africa, based at the Coega Special Economic Zone in Gqeberha, has reaffirmed its commitment to growth in the dynamic South African truck market.
In a statement on Thursday, FAW said it remained at the forefront, delivering cutting-edge solutions and building lasting partnerships with businesses worldwide.
“Over the past decade, the South African truck market has witnessed remarkable growth. In 2005, market predictions indicated a 10.5% increase, reaching 23,000 units—a record at the time,” said brand manager, Kirsha Krishna.
“This growth was fuelled by an expanding economy. Looking ahead, forecasts continue to be optimistic, projecting sustained growth over the next decade,” she said.
Krishna said Statistics South Africa noted that the trucks market in South Africa is projected to reach a total of 18,620 vehicle unit sales in 2024, and growth projections up to 2029, indicate a projected market volume of 20,330 units.
“FAW Trucks Southern Africa is well-positioned to keep up with this market projection, as the company's expanding and diverse product range as well as the strategic focus on the Southern African region, give it a unique advantage to adapt and capitalise on the industry's growth,” Krishna said.
However, FAW noted that despite this positivity, South Africa faces challenges in maintaining its position as a prominent truck assembler.
“The African Continental Free Trade Area agreement is expected to attract local truck assembly in other African countries, including Egypt and Kenya.
“However, FAW Trucks Southern Africa remains optimistic about the future with the Southern African footprint giving the brand a unique advantage.”
