UPDATE 1-SAfrica autoworkers, firms in deal to end strike

* Strike cuts production by about 17,000 vehicles

* Carmakers hit included Toyota, Ford, GM, BMW and Daimler

(Adds background, details)

JOHANNESBURG, Aug 20 (BestGrowthStock) – South African automobile
manufacturers and a union representing thousands of auto workers
have reached a deal on wages, ending a costly eight-day strike,
employers’ body AMEO said on Friday.

The Automobile Manufacturers Employers Organisation said it
and union Numsa signed a wage agreement on Friday. The
three-year deal will see workers getting a 10 percent increase
this year, and 9 percent in the next two years.

The unions were seeking 15 percent wage hikes, more than
triple the country’s inflation rate.

The strike led to lost production of about 17,000 vehicles,
the group said. South Africa’s auto industry, which the industry
said accounts for about 6 percent to 7 percent of the country’s
GDP, produces about 420,000 vehicles a year.

About half of South Africa’s auto production is exported to
other African states, Europe and North America.

The strike hit companies including Toyota (7203.T: ), Ford
(F.N: ), Volkswagen (VOWG_p.DE: ), General Motors [GM.UL], Nissan
(7201.T: ), BMW (BMWG.DE: ) and Daimler (DAIGn.DE: ).

The strike has not stood out in the global context because
workers in several major markets have sought wage hikes, feeling
they have leverage after carmakers slashed personnel during the
global financial crisis and are scrambling to man assembly
floors now that demand has picked up, analysts said.
(Reporting by Marius Bosch and Jon Herskovitz; editing by Simon
Jessop)

UPDATE 1-SAfrica autoworkers, firms in deal to end strike