Motus claims it is facing ‘unfair competition’ in SA vehicle retail market

Motus, the JSE-listed integrated automotive business, claims it faces “unfair competition” in the vehicle retail market from South Africa’s seven original equipment manufacturers .

Motus is the exclusive South African importer and distributor of Hyundai, Renault, Kia and Mitsubishi vehicles and parts, which collectively have about a 21.3% passenger vehicle market share in South Africa. “It wasn’t there to say just ‘take the South African money and go and pump it there and look helluva smart when the currency goes down’. That’s not the reason.

Motus subsequently acquired a number of foreign businesses, including UK-based business-to-business parts distribution business Motor Parts Direct Limited in 2022 for R3.64 billion.Prior to this, Motus established a distribution centre in Shanghai, China, expanded its brand reputation and passenger dealership presence in the UK and Australia, and acquired an engine distribution business in Taiwan.

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The Finance Ghost: The market lowdown on Motus, Premier’s Millbake and Oceana’s Lucky StarFor the year ended June 2024, Motus has reported a drop in Heps of between 25% and 35%. That’s a nasty downturn, as a change in the cycle so often is. Consumer spending is a concern, though, particularly in South Africa.
Fonte: dailymaverick - 🏆 3. / 84 Consulte Mais informação »