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Motus, the JSE-listed integrated motive autobusiness, claims it faces "unfair competition" in the vehicle retail market from SA's seven original equipment manufacturers (OEMs).
Motus CEO Osman Arbee said the country's OEMs manufacture and export cars, providing them with export income. They can also import and still have a balance.
"I was importing a lot more and I had nothing to export or no foreign income coming my way, so that was a big concern," he said during the group's Capital Markets Day presentation last week.
Explaining the group's internationalisation and diversification strategy, Arbee added: "We had to look at this because we do not have a natural hedge, and we'll never get it, and so that is why we started on this journey of getting our foreign income."
Bu hikaye The Citizen dergisinin June 25, 2024 sayısından alınmıştır.
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Bu hikaye The Citizen dergisinin June 25, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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