Covid-19 Business Watch
WATCH: Automotive industry in head-on collision with Covid-19
Business Day TV speaks to a panel of experts within the automotive industry about the effect of the lockdown
SA’s automotive industry is heading for a collision with Covid-19. Figures released yesterday by the department of trade and industry show that March domestic new-car sales of 22,200 were almost 27% below March last year. Local and export sales of new vehicles also took a beating, slumping by 29.7% and 21.5%, respectively. With the lockdown only ending in two weeks, we can expect April to be much, much worse.
Mike Mabasa, CEO of the National Association of Automobile Manufacturers of SA; Riaz Haffejee, CEO of Sumitomo Rubber SA (Sumitomo Dunlop); Renai Moothilal, executive director of the National Association of Automotive Component and Allied Manufacturers; and Jakkie Olivier, CEO of the Retail Motor Industry Organisation spoke to Michael Avery on Business Day TV.