CRA Market News – South Africa
By BUSINESS DAY TV
Michael Avery talks to a panel about the automotive industry and the challenges it faces.
The automotive value chain was already under pressure before the Covid-19 pandemic; in a study by Deloitte (The economic impact of Covid-19 on the auto value chain, June 2020), 66% of respondents recorded a decline in earnings prior to the pandemic.
Most dealers and dealer groups have moved their focus from profit to liquidity and this was backed up by the release of the vehicle sales numbers this week.
Michael Avery talks to Mike Mabasa, CEO of the National Association of Automobile Manufacturers of SA; Mark Dommisse, national chair of the National Automobile Dealers’ Association, and shareholder and MD of the North Motor Group; Faisal Mkhize, managing executive of Absa vehicle and asset finance; and Leo Kok, CEO of Panthera Media, about what challenges the industry is facing.
Credit to Business Day LIVE.