The hard lockdown put the brakes on car sales for a month and a half, but sales have been below 2019 levels since dealers reopened. Picture: DENIS DROPPA
Much of the damage was done during the hard lockdown when vehicle factories and dealerships were shut from March 27 to May 13, but sales haven’t recovered to previous levels since the automotive market reopened. SA entered a recession before the outbreak of Covid-19, said Naamsa, which meant middle-class disposable income was already under pressure before the national lockdown.
While vehicle exports in December smashed numbers achieved a year earlier, it was too little to rescue a miserable 2020 for the industry.
Banks credit criteria is flawed and too strict