This paper reports on research undertaken to understand the contribution of formal Technical Vocational Education and Training (hereafter TVET) to company-level growth and transformation in the automotive sector in South Africa. The findings of this article are part of a larger research project conducted in South Africa and five other developing countries, namely, Bangladesh, Cambodia, Ethiopia, Laos, and Vietnam, to explore the contribution of TVET programs to inclusive industrial transformation and growth in the manufacturing sectors. It argues that formal TVET training does not drive workplace changes in technology, work organisation, and product change in the automotive sector. This paper challenges the current formal TVET provision policy in South Africa to recognise other forms of training provision, such as non-formal, and informal on-the-job training, in addition to company-level factors critical in shaping the skills system if we are to understand the extent to which skills enhance growth and transformation.