"We have constructive relationships with our key stakeholders in suppliers and the government, and are confident that we will be able to find solutions to maintain the competitiveness of the automotive manufacturing sector," its corporate affairs manager, Thato Mntambo, told Reuters.NAAMSA's Mabasa warned that if carmakers struggle for liquidity in the crisis they may be unable to fulfil export orders, worth $9-billion a year across the industry.
Renai Moothilal, executive director of the National Association of Automotive Component and Allied Manufacturers, said there was a strong possibility smaller firms would not survive and that would be disastrous for the government's drive to boost local output and double employment in the sector.
Chief executive Ken Manners said the initial three-week lockdown alone had probably cost it 12 percent to 15 percent of annual turnover. With the country's debt rating now firmly in junk territory and an economic contraction inevitable, there are questions over how it will even pay for measures already announced.
And then uCyril emontweni kwenzakalan
Threatened by anti-business government policies and irrational, vindictive Covid19SA LockdownSA obsession.