South Africa’s retail motor industry is facing several challenges that could see the loss of thousands of jobs.
South Africa’s retail motor industry is under severe pressure from load-shedding and the country’s high interest rates.This is the warning from Motor Industry Staff Association spokesperson Sonja Carstens, who toldthat several industry roleplayers have had to restructure due to the pressure on the sector.
There is also a big tyre manufacturer that has pulled out of the country, which will affect 11 retail stores nationwide and 237 employees. “It’s a spiral, and it’s devastating to workers out there,” she said, adding that it has had a ripple effect across the industry. “And there’s basically nothing we can do about it – there’s no quick fix,” she said. “There’s no solution unless we get load-shedding to stop and unless we get the interest rate to fall.”