New car sales down by 20.6% year-on-year

We experienced a major drop in new-car loan applications.

Simphiwe Nghona, WesBank

We decline between 50% and 60% of applications.

Simphiwe Nghona, WesBank

We foresee this deterioration to continue in 2017.

Simphiwe Nghona, WesBank

New cars sales plunged by 20.6% year-on-year in July.

The Money Show’s Bruce Whitfield interviewed Simphiwe Nghona, CEO of Motor Division at WesBank.

Listen to the audio below for more detail

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the six most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


This article first appeared on 702 : New car sales down by 20.6% year-on-year


Recommended

by NEWSROOM AI
Read More
'Majority of tax payers will get R153 more in their pocket this year'

'Majority of tax payers will get R153 more in their pocket this year'

Co-Founder at TaxTim Marc Sevitz says no tax decrease for tax payers may be the only disappointment in the budget speech.

Will the budget be convincing enough for ratings agencies? Economists explain

Will the budget be convincing enough for ratings agencies? Economists explain

Economist Xhanti Payi and Prof Osman Mollagee give their take on Minister Tito Mboweni's budget speech.

Why you should read the Bill and Melinda Gates Foundation annual letter

Why you should read the Bill and Melinda Gates Foundation annual letter

For the last decade, the letter has tracked how the world has been improving.

Find out how the budget is put together...from a former Treasury insider

Find out how the budget is put together...from a former Treasury insider

Former Treasury DDG and current research associate at UCT School of Economics Andrew Donaldson has some useful insights.

Working abroad? New rules are coming! You're probably breaking the existing ones

Working abroad? New rules are coming! You're probably breaking the existing ones

Bruce Whitfield interviews Warren Ingram, a Personal Financial Advisor and Executive Director at Galileo Capital.

Dr Adriana Marais was on her way to the Red Planet. Then Mars One collapsed

Dr Adriana Marais was on her way to the Red Planet. Then Mars One collapsed

The Money Show’s Bruce Whitfield interviews Marais, a quantum biology researcher with dreams to live on Mars.

Popular articles
[WATCH] Owner catches car thief off guard and thwarts vehicle theft in Springs

[WATCH] Owner catches car thief off guard and thwarts vehicle theft in Springs

The vehicle's owner came out of the store just in time to scare away the man attempting to steal his bakkie.

Traffic congestion: Capetonians spending 75% more time in vehicles

Traffic congestion: Capetonians spending 75% more time in vehicles

Cape Town has the worst congestion levels in the whole of South Africa.

DStv subscription price hikes for 2019

DStv subscription price hikes for 2019

MultiChoice will increase the prices of certain DStv packages from 1 April.

'Bring back skilled engineers to Eskom' - Solidarity

'Bring back skilled engineers to Eskom' - Solidarity

Trade Union Solidarity says it supports Pravin Gordhan's idea that technicians who used to work for Eskom should be brought back.

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.