Car industry revs up in South Africa despite languishing economy
Companies including BMW AG, Volkswagen AG and Ford Motor Co are taking advantage of the state's car development programme
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Johannesburg
AS South Africa's economy languishes near a recession, there is one major success story: the car industry.
While mining companies such as Anglo American Platinum Ltd and Lonmin plc are among businesses cutting jobs and output in Africa's most-industrialised economy, two of the world's biggest carmakers have announced investment of more than 10.5 billion rand (S$1 billion) in the past four months.
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