Dealer industry news from around Southern Africa
The downward trajectory in the new vehicle market continued in October 2020 but at a slower pace than previous months.
Almost half of South Africa’s seven automotive original equipment manufacturers (OEMs) believe capital investment expenditure by the industry will decline in the next six months compared to the prior period.
Finance Minister Tito Mboweni has warned that South Africa cannot allow its recent fiscal weakness and the pandemic to turn into a sovereign debt crisis, and the measures in the Medium-Term Budget Policy Statement (MTBPS) set out active measures to avoid this risk.
Africa, and South Africa in particular, was warned that it might just miss the bus in the anticipated Electric Vehicle (EV) boom, especially if governments don’t come to the party with incentives and tax relief.
The general public, and customers specifically, are loving Tiger Wheel & Tyre as they were recently voted the “best” and “favourite” in two separate polls done annually by local newspapers among its readers.
Niall Lynch, CEO of Hyundai Automotive South Africa, listed more good news than bad for South Africa’s economy in the short and medium term.
Dealers and OEMs should take note of various economic drives to pivot to a smarter mobility environment where broader walkways, a myriad of cycle tracks and even a light railway system could join the transport network.
The new-vehicle market is anticipated to drop back to “the levels of two decades ago” in 2020, according to Naamsa.
There seems to widespread dissatisfaction with the draft regulations of the Administrative Adjudication of Road Traffic Offences Act, in short known as Aarto, that could have severe consequences for road users if accepted in its current form.
Consumers could be facing a new cycle of new vehicle price increases.
The procurement of vehicles by the South African government, like many other countries, should be entirely linked to local manufacturers, says Dr Martyn Davies, MD of emerging markets and Africa at Deloitte and the firm’s African automotive lead partner.
Vehicle sales results since June this year have allayed fears of a “doomsday scenario”, says JSE-listed Combined Motor Holdings (CMH).
Windshield film to protect against chips and cracks have always been the holy grail of vehicle wrapping.
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Have you ever noticed that anybody driving slower than you is an idiot, and anyone going faster than you is a maniac?
George Carlin