SA motor industry’s resilience could see it emerge little scathed
RMB executive says the industry will remain a ‘relative bright spot’ in the ailing SA economy
The SA motor industry’s “decades of experience through all conditions” will enable it to emerge relatively unscathed from the economic chaos caused by Covid-19, Rand Merchant Bank (RMB) executive Simon Woodward said on Wednesday.
Domestic and export sales of new vehicles have plunged in 2020. Aggregate SA sales to the end of August were 34.6% lower than for the same period in 2019. Exports were down 40%. September’s sales figures, due on Thursday, are expected to bring only slight improvement.