VM Automotive was set up in 2013 to take opportunities in the localisation of components production by automotive OEM’s operating in South Africa. VM Automotive is a 100% privately owned company focussing only on the supply of automotive components (blanks). The company’s productions plant is located in Rosslyn (South Africa) and it is 100% owned by black South Africans. The South African government provides incentives to global OEM’s to increase their global exports of vehicles and in return expects the OEM’s to increase their support to new local component suppliers.
To be a transformed automotive supplier of choice for the South African automotive industry.
Manufacture automotive components at competitive costs and high quality as a stable and transformed supplier to the South African automotive industry.
- The company is 100% privately owned by Vexovision (Pty) Ltd which is owned by Messrs L. Njenje, L. Mcwabeni and T. Yako.
- The company is registered with the South African CIPC as a Proprietary Limited entity with registration number 2013/172470/07.
Annual Financial Statements
As this is the company’s first year of operations, it has not yet compiled any financial statements or annual report. The company has a December year end. The first set of annual financial statements and annual report will only be compiled in the beginning of 2019 calendar year.
Currently the entity is operating profitably and is also supported from a financial and investment aspect by the Industrial Development Corporation. Given the above as well as our recent trading, VM Automotive has a Defensive Interval Days ratio in excess of 300 days. This ensures that the company has sufficient liquidity to ensure service delivery to its customers.
Sale Overview - Customer
- BMW (G01 – X series contract)
- BMW (F30 – 3-series contract for after care)
- MBSA (W205 – C class)
- Ongoing Negotiations:
- We have commenced with the process of negotiating for new blanking work with other local OEMs, including Ford, Nissan and Volkswagen, among others.
Sale Overview - Region
As the entity is currently only providing BMW and Mercedes Benz South Africa, its sales are limited to this region. Current sales are projected to be approximately 19 000 blanks per day. This can be easily increased by operating a third shift and extending the working days per week. Blanks are currently sold ex-works.