Will buyers’ market revive auto industry?
The slump in South African new-vehicle sales slowed in May as dealerships resumed some operations after a lockdown aimed at curbing the spread of the coronavirus pandemic was partially eased. These monthly declines resemble the industry downturn in 2008 and 2009. However, back then, production and public life didn’t largely come to a halt. So how will the automotive industry get out of this unprecedented crisis and will there be major structural changes? Business Day TV's Michael Avery speaks to Mike Mabasa, CEO of NAAMSA; Mark Dommisse, Chairperson of the National Automobile Dealers’ Association; MD and Shareholder of North Motor Group; and Dealer Council Chairman of the Honda Dealer Network; & Faisal Mkhize, Absa Group’s Managing Executive of Absa Vehicle & Asset Finance.