The economy may be reopening but SA's motor industry is expected to take a long time to recover, with job losses and pay cuts slashing consumers' "car wallets" while the prolonged travel shutdown has severely reduced demand for rental cars.

BofA Securities warned this week that SA was seeing significant loss of capacity in the automotive industry, which accounts for 7% of GDP and 30% of manufactured output. It employs 457,000 people directly and indirectly.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now