Zimbabwe spends US$1.6 billion on second-hand car imports

Zimbabweans have spent a staggering US$1.6 billion on importing second-hand vehicles over the past six years, highlighting the need to revive the local automotive industry, Industry and Commerce Minister Mangaliso Ndlovu has said.

Speaking during a meeting with a South African business delegation led by the Association of the African Automobile Manufacturers (AAAM) on Wednesday, Ndlovu stressed the urgency of reversing these financial outflows.

"For the last six years, we have spent US$1.6 billion on second-hand vehicles," he said. "Not to mention the jobs that we have exported. The majority of those are pre-owned vehicles, most of which last less than three years in the country."

The minister noted that reviving Zimbabwe's iron and steel industry would be key to boosting local vehicle production and reducing reliance on imported cars.

"With our iron and steel sector taking shape, we believe we can re-localise a significant portion of automotive manufacturing," he said.

The meeting with AAAM comes as Zimbabwe seeks to attract foreign investment into its manufacturing sector, particularly in vehicle assembly and production, to create jobs and stimulate economic growth.