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
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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