Automobiles & Components News

Volkswagen moves into Kenya & Rwanda in Africa expansion

Volkswagen moves into Kenya & Rwanda in Africa expansion

Volkswagen on Wednesday opened a new assembly plant in Kenya and launched plans for a ride-sharing service in Rwanda as it seeks to take advantage of surging car demand in Africa.

Kia Motors to assemble cars in Ethiopia

Kia Motors to assemble cars in Ethiopia

South Korea’s Kia Motors Corp signed a deal with an Ethiopian company last week to start assembling cars in Ethiopia and is thinking of similar operations elsewhere in Africa.

Volkswagen Polo Vivo

Volkswagen expands Africa strategy with Kenya car assembly plant

Volkswagen continues to drive forward with the regionalization of the global automotive business. The brand is planning to start production of the Polo Vivo in Kenya at the end of 2016.

Nissan Pathfinder: Nissan is one of a handful of vehicle manufacturers now assembling automobiles in Nigeria

Nigeria will be Africa's next automotive hub (Report): PwC

Nigeria has the potential to become the hub of Africa’s automotive industry. Home to an estimated 170 million people, over 40 million of who are in the growing middle class, the continent’s largest economy is increasingly seen as an attractive destination for investors across all sectors.

BMW plant in Rosslyn, South Africa

South Africa in Talks With Five Automakers About New Plant

South Africa is in talks with five vehicle manufacturers about a proposed new assembly plant in the port city of East London, a potential boost for an industry that’s using government incentives to attract investment from companies including Ford Motor Co. and BMW AG.

Rita Kavashe, Managing Director, GM East Africa

General Motors East Africa to double truck output on construction boom, says MD

A construction boom in Kenya has fueled a rise in commercial truck sales for market leader General Motors, which is investing $7.9 million in 2016 to upgrade its assembly plant in Nairobi and more than double output, a senior executive said on Thursday.

Ford Everest

Ford invests $167 million in South Africa to build Everest SUV

Ford Motor Co. will invest 2.5 billion rand ($167 million) in the U.S. automaker’s South African operations to start production of the Everest sport utility vehicle and create about 1,200 jobs.

Aliko Dangote, President and Chief Executive Officer of Dangote Group and Co-Chair of the World Economic Forum (WEF) Annual Meeting 2014, speaks during a session at the WEF in Davos January 22, 2014.

Africa's richest man Dangote makes bid to acquire controlling stake of Peugeot Nigeria

Aliko Dangote, Africa’s richest man, has teamed up with two Nigerian states to bid for a majority stake in Peugeot Automobile Nigeria (PAN) Limited, a local joint venture with the French automaker, the governor of Kaduna State said on Thursday.

The IVM G5 by Innoson Vehicle Manufacturing (IVM)

Nigeria's automotive industry shifts into high gear

In late 2013, the administration of then-President Goodluck Jonathan made a bold bet: that it could jumpstart the country’s ailing automotive industry through a comprehensive—and controversial— industrial policy, known as the National Automotive Industry Development Plan (NAIDP).

Nissan Pathfinder: Nissan is one of the car makers that recently started building cars in Nigeria.

Nigeria Targets 80% Local Manufacturing in Auto Industry

Nigeria plans to raise the portion of local manufacturing in the automotive industry to 80 percent by 2023 as Africa’s most populous country seeks to cut imports and diversify the economy away from oil, the industry regulator said.

Nigeria should look forward to automobile boom, says PwC (Reuters/Monica Mark)

In 35 years, Nigeria could be the automotive capital of Africa

New data from PricewaterhouseCoopers (PwC) predicts that Nigeria can become a leading automotive hub in Africa by 2050 with an increase in local production and an expansion in new car markets.

Next generation BMW X3 to be built at BMW South Africa’s Rosslyn Plant

Next generation BMW X3 to be built at BMW South Africa's Rosslyn Plant

The BMW Group today reaffirmed its long term commitment to South Africa by announcing that it will invest a total of R6 billion at its Rosslyn Plant in Pretoria in the coming years.

Here are the 5 startups chosen at DEMO Africa to pitch in Silicon Valley

Here are the 5 startups chosen at DEMO Africa to pitch in Silicon Valley

One of the continent’s most-talked about startup events, DEMO Africa 2015, recently concluded with five startups chosen to pitch in Silicon Valley.

Volkswagen plant in Uitenhage, South Africa. Photographer: Henner Frankenfeld/Bloomberg

Volkswagen to Invest $340 Million in South African Car Business

Volkswagen AG, which is seeking to become the world’s largest automaker by 2018, is investing more than 4.5 billion rand ($340 million) in South Africa for new products and infrastructure.

Ford Ranger

Ford to start assembly in Nigeria

Ford Motor Company (F.N) will start assembling its best-selling Ford Ranger pickup truck in Nigeria by the fourth quarter, as it expands in Africa and the Middle East, the U.S. automaker said on Tuesday.

Volkswagen brings car assembly back to Nigeria to tap Africa growth

Volkswagen brings car assembly back to Nigeria to tap Africa growth

Volkswagen AG resumed building vehicles in Nigeria for the first time in 25 years in a bid to foster sales growth in Africa.

Kia Sorento: Kia plans to produce 25,000 vehicles per year in Lagos, Nigeria.

Kia to produce 25,000 vehicles per year in Lagos, Nigeria

Kia Motors Nigeria has made good on its promise to start production of vehicles in Nigeria with the inauguration of the Kia assembly plant in Lagos.

Private equity investors are getting hot for Africa

Private equity investors are getting hot for Africa

When Paul Kavuma began approaching private companies in Africa a decade ago to suggest investing in their businesses and improving the way they were run, he was often shown the door.

Budget Rent a Car

Avis partners with South Africa's Barloworld to operate Budget car rental brand in southern African countries

Moving ahead with the expansion of its Budget Car Rental brand and further extending itsmulti-brand strategy, Avis Budget Group Inc. (CAR – Analyst Report) penned a deal with Barloworld Ltd. to operate its Budget Car Rental brand in southern Africa.

AutoZone

Ethos Private Equity acquires South African auto parts retailer AutoZone

Ethos Private Equity Ltd. bought a controlling stake in South African closely held automotive-parts retailer AutoZone, the fourth investment through its 7.9 billion-rand ($682 million) Fund VI.

Volkswagen Beetle

Volkswagen (VW) to start assembling cars in Nigeria with Stallion Group

Volkswagen AG (VOW) plans to start assembling cars in Nigeria as early as next year with Dubai-based conglomerate Stallion Group, according to people familiar with the matter.

The IVM G5 by Innoson Vehicle Manufacturing (IVM)

Innoson Unveils First Made-in-Nigeria Cars

When Nigeria, on October 3, 2013, announced the introduction of a new automotive policy aimed at discouraging the importation of wholly assembled automobile and encourage local manufacturing …

Carmudi Nigeria

With 40,000 listings and 800,000 Facebook fans, is Carmudi Nigeria's #1 car classifieds site?

Carmudi has become the leading car classifieds in Nigeria as the site has reached a series of milestones including 40,000 unique listings on its website and 800,000 Facebook fans.

The Carlyle Group

The Carlyle Group partners with Old Mutual Private Equity to acquire 100% of Tiger Automotive in maiden South Africa deal

Global Alternative Asset Manager The Carlyle Group (NASDAQ: CG) and Old Mutual Private Equity today announced that they have agreed to acquire 100% of South African tyre retailer and wholesaler Tiger Automotive (TiAuto) from Ethos Private Equity and the founders.

Tomi Hodonu, General Manager, Cheki Nigeria

We plan on listing 25,000 cars by the end of the year: Tomi Hodonu, General Manager, Cheki Nigeria & Ghana (Video)

Tomi Hodonu, General Manager of cheki.com.ng, gives us a behind the scenes look at this fast growing online market place that brings car buyers directly to sellers at just the click of a button.

Olusegun Aganga, Nigeria’s Minister of Industry, Trade, and Investment

Volkswagen planning new auto assembly plant in Nigeria: An interview with Segun Aganga, Nigeria's Minister of Industry, Trade, and Investment (Video)

Volkswagen is in talks with the Nigerian government to establish an auto assembly plant in the West African country in December.

There were 66,000 BWM-3 series produced in South Africa in 2013. Of those made for export, the cars were sent to Japan, Australia, Singapore, as well as sub-Saharan Africa.

Car makers in the driving seat of South Africa's economy

The smells of oil, tires and hard work surround Monwabisi Bokwe as he stands on the Volkswagen production line.

The 2015 Nissan Armada. Nissan, in a joint venture with the Stallion Group

Automobile assembly revs up in Nigeria

The first made-in-Nigeria passenger cars for decades rolled off factory lots in Lagos State in June, marking what authorities hope is the beginning of a new era for automotive assembly in the country.

Porsche Panamera

Porsche Returns to Kenya With Franchise as Growth Spurs Wealth

Porsche AG, the luxury-car maker, opened a franchise in Kenya today to take advantage of an expanding economy and after securing a local partner to sell the vehicles.

US-Africa Business Forum - This is the Moment to Invest in Africa

US-Africa Business Forum: This is the Moment to Invest in Africa (Video)

Africa has a middle class larger than that of India, a projected five percent growth rate by 2015, and six of the world’s ten fastest growing economies.