Motus’ interim profit set for a hit as vehicle sales lose momentum
Automotive group under strain from lower consumer demand, high inflation in vehicle and parts prices and excess stock
18 January 2024 - 11:58
SA automotive company Motus expects profit will drop as much as 30% in the six months ended December, prompting an 8.5% decline in its shares — the biggest one-day drop since early October.
In a trading update on Thursday the company said operations were hampered by several issues, including lower consumer demand, higher-than-normal inflation in vehicle and parts prices and excess stock from car manufacturers...
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