Africa’s population and household incomes are rising rapidly. But its 1 billion inhabitants account for only 1 percent of the world’s new passenger car sales, industry data shows.
South Africans are buying fuel at the record high price of R17.08 per litre and with more hikes expected in the near future, what transport alternatives are there to consider? Zaheera Ahmed, Automotive and Transportation Research Analyst at Frost & Sullivan joins CNBC Africa for more.
Simba Corp expands hotel portfolio acquires stake in Hemingways
With little growth in mature markets, automakers are looking to tap into emerging African markets, but there is plenty of competition.