The production of buses and coaches in South Africa has exhibited a volatile trend over the past decade. From 2013 to 2023, the industry fluctuated significantly, peaking in 2014 with a 23.21% increase, and experiencing a steep decline of 26.03% in 2020. The compound annual growth rate (CAGR) for the past five years stands at -11.21%. In 2023, the production volume has dropped to 0.65 thousand units, marking a 12.75% year-on-year decrease from 2022.
Looking ahead, the production is forecasted to continue its downward trajectory, with a projected CAGR of -10.18% over the next five years. By 2028, the production level is expected to be 0.342 thousand units, representing a 41.54% decline from 2023.
Future trends to watch for include:
- The impact of emerging technologies and electric buses on production volumes.
- Government policies and initiatives aimed at boosting the automotive industry.
- Shifts in global demand and South Africa's role in the international market.
