Ford Sees 2017 S. African New Car Sales Rising on Stable Rates
- Regional CEO expects 1%-2% market growth after 2016 decline
- A stronger rand, financing offers by banks to also boost sales
A visitor uses a mobile phone to photograph the new Ford Ranger pickup truck on display at the Ford Motor Co. 'Go Further' event at the Sandton Convention Center in Johannesburg, South Africa, on Tuesday, Aug. 11, 2015. Ford reported net income of $1.9 billion, or 47 cents a share, compared with $1.3 billion, or 32 cents per share a year earlier.
Photographer: Waldo Swiegers/BloombergFord Motor Co. said it expects the South African new car market to grow slightly next year as a stable rand and interest rates could boost sales.
Purchases may increase 1 percent to 2 percent in 2017 compared with this year, Jeff Nemeth, chief executive officer of the U.S. automaker in sub-Saharan Africa, told reporters in Pretoria on Tuesday. That compares with a 12 percent decline in the 11 months through November and a 5.9 percent fall in 2015, according to the National Association of Automobile Manufacturers of South Africa.