VW breaks a record at its Polo factory, and Mercedes-Benz to build the new C-Class in South Africa

Isuzu has launched a new all-wheel-drive version of its entry-level mu-X Adventure SUV, effectively lowering the starting price of its 4×4 options by R150,000.

The new mu-X LS is equipped with a 1.9-litre turbocharged diesel engine and has a price tag of  R789,700, or R149,800 less than the 3.0-litre mu-X LS, which was previously the cheapest 4×4 option.

Oil prices have seen a considerable weekly gain as the United States pushes to isolate Iran’s economy. Global Brent Crude oil prices climbed to $93 per barrel, representing a 6% increase in one week.

The US claimed it maintains control over the Strait of Hormuz and that ships could exit the waterway through a southern lane; however, Tehran insists it retains authority. More vessels were attacked in the Strait this week.

The rand has continued to strengthen against the US dollar, dropping to R16.10 per USD as global investors avoided taking large positions on the US bond market.

5 important things

Top international car brand building more cars in South Africa in a month than it did in a year 40 years ago: VW Group Africa hit a new monthly production record at its Kariega factory in the Eastern Cape in July, producing 17,009 Polo and Polo Vivo hatchbacks. [TopAuto].

Mercedes-Benz to build new C-Class in South Africa: Mercedes-Benz South Africa has confirmed that it will build the facelifted C-Class sedan at its factory in KuGompo City (East London), indicating that the brand is still prepared to invest locally despite a steep drop in export sales. [BusinessDay].

New luxury hotel with its own superyacht marina in South Africa: The Cape Town EDITION hotel and private residences is a new hospitality development in the waterfront, featuring its own marina, 142 rooms, and 27 suites. [Daily Investor].

Europe’s largest carmaking economy is stalling: Germany is Europe’s largest car-producing nation, but its industrial sector is stalling due to high energy cost caused by the loss of cheap Russian fuel, and rising Chinese competition. [Bloomberg].

New Volvo XC70 bound for 70+ international markets: Volvo has launched the new XC70 plug-in hybrid SUV in China, which will also be exported to over 70 countries worldwide. Volvo South Africa said the car is under consideration for our market, but it has yet to be confirmed. [CarNewsChina].