SA car industry may have to lay off 10% of workers

The lockdown could lead to motor industry job losses of between 21% and 30% if it is extended until the end of May. Picture: SUPPLIED

The survey, dated April 8 before President Cyril Ramaphosa extended the lockdown by two weeks, estimated the initial 21-day national lockdown could lead to job losses of between 1% and 10%, which could rise to between 21% and 30% if it is extended until the end of May. Companies range from the local units of global automakers, such as Nissan and Ford, and component manufacturers to tiny panel beaters and informal workers.The survey, compiled byThe vast majority of those jobs are in the retail sector. Manufacturing accounts for about 110,000 of the jobs, the survey said.

Estimated potential SME closures rose to between 21% and 30% in a lockdown ending May 8 or at the end of May, according to the survey, which only provides a rough estimate of the aggregate impact on the industry as a whole.

Thank you President CyrilRamaphosa

Good. No job no money more violence more opportunities to get booze and cigarettes. Can’t wait.

Thanks to LockdownSAExtended

Why?🤔

Given the greater depression looming with new cars being a non necessary purchase, I suspect the carnage will be much higher than that by year end.

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