Combined Motor Holdings earnings fall amid economic ‘onslaught’

Combined Motor Holdings CEO Jebb McIntosh. Picture: FINANCIAL MAIL

“The widespread corruption, mismanagement of state-owned enterprises, uncertainty regarding land expropriation threats, and political leadership focused on short-term tactics ahead of the election, have combined to reduce business confidence to near all-time lows,” CEO Jebb McIntosh said. Revenues were up due to a “slight increase” in vehicle sales volumes, a greater mix of higher-priced luxury models, and new vehicle prices being 2% to 3% higher. But margins fell amid heightened competition, he said.“It is not easy to be optimistic about the short-term future of the domestic market,” McIntosh said.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ford models hit by car lock crisis | The StarHundreds of Ford drivers have recently complained about losing valuables after identical break-ins to their cars they blame on poor security features. TheStar_news
Source: IOL - 🏆 46. / 51 Read more »

UK conman arrested in Durban targeted Boss, Armani, Chanel brands | Independent on SaturdayConman faces theft charge in Durban court for the theft of a motor vehicle he stole from his business partner Richard Simpson.
Source: IOL - 🏆 46. / 51 Read more »

CHRIS GILMOUR: Diversification pays off at Workforce HoldingsA growing proportion of the company's profits are now being generated from its new healthcare, training and financial services segments
Source: BDliveSA - 🏆 12. / 63 Read more »