The automotive group says there is a risk that new car sales in SA will fall in the next two to three years
Automotive group Motus, which imports and sells cars, warned on Wednesday it was cautious about its outlook for
Both new car sales and industry margins in SA could fall in the next two to three years, the group said, as consumers continue to delay purchases, trade down to cheaper vehicle models and place pressure on the quality of the pre-owned vehicle supply. The group warned that changes to legislation, load-shedding, high unemployment and the prospect of credit-rating downgrades were all weighing on the country’s car market. SA-specific problems looked set to stay for at least two to three years.
Group revenue rose 7% to R41.95bn, with the company reporting that although the new vehicle market declined by about 2% during the period in SA, it had managed to grow market share about 0.8 percentage points to 20.1%. This was largely due to increased sales volumes for entry-level vehicles.
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