Motus counts on car rental business to ride out downturn
Full-year profit surges 300% on cutbacks in advertising and salaries
Motus, which was listed on the JSE in 2018 after it was unbundled from Imperial, is counting on the accelerating Covid-19 vaccination drive to power its strategy to target the car rental market as one of the key levers of growth.
The car rental market was hit hard by the fallout from the Covid-19 pandemic as air travel dried up amid a hard lockdown that prohibited movement between provinces and closed international borders. While SA opened some of its borders late in 2020, the country’s tourism industry got a vicious blow from the discovery of the Beta variant, after which travel from SA was banned by many countries...