Experts have predicted good times ahead for South Africa’s motor industry, but high interest rates remain an obstacle to growth.
There are good times ahead for the motor industry, many analysts have predicted, but August’s new vehicle sales performance was something of a speed bump on that road.
The passenger car market actually grew by 3.1% year-on-year, to 30,022 units, buoyed by strong rental industry demand, which accounted for 16.7% of the total. Ghana Msibi, chief executive of WesBank, believes that a slow road to recovery lies ahead for the motor industry.
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