NADA - South Africa

Dear NADA Members, As a dealer of high-value goods – defined as any goods valued at R100,000 or more – your dealership is classified as an accountable institution under the Financial Intelligence Centre Act (FICA). This classification requires you to comply with specific obligations, including registering with the Financial Intelligence Centre (FIC) and implementing a risk management and compliance programme... Read more here: https://bit.ly/4cBlag3

Check out the latest interview on NADA South Africa with Thembinkosi Pantsi, featured on POWER 98.7. In this insightful discussion, Thembinkosi dives into what the automotive industry needs from the government to kickstart growth and innovation in the sector. Don't miss out on these expert insights that could shape the future of South Africa's automotive landscape! Listen to the full interview now: https://bit.ly/4dR14Q6

NADA welcomes potential interest rate cut amid lower inflation and fuel prices Johannesburg, South Africa, 21 August 2024 – The National Automobile Dealers’ Association (NADA) is encouraged by the recent decline in South Africa’s annual consumer price inflation to 4.6% in July, the lowest level in three years. This drop, combined with the recent decrease in fuel prices, signals a positive economic shift expected to benefit consumers and businesses nationwide... Read more: https://bit.ly/4fTIuZk

What auto industry wants from government to keep the wheels turning South Africa’s seventh administration has taken office amidst a flagging domestic economy desperately seeking traction. The automotive industry, South Africa’s biggest manufacturing industry, has seen vehicle sales declining steadily as embattled consumers increasingly seek the seemingly unattainable: an affordable car...Read more here: https://bit.ly/3YOcGiG Sources: Creamer Media, Engineering News & Mining Weekly

South Africa’s vibrant dealer economy It is easy to focus on the billion-rand investments in manufacturing plants made by car companies. It’s big news in big chunks and desperately needed foreign direct investment in a motor industry that is amongst the biggest contributors... Read more here: https://bit.ly/4cpgji1

South African Dealerships Reflect on CDK Global Cyber Attack in the US The recent cyber attack on CDK Global in the United States has sent ripples of concern through the automotive industry worldwide, including here in South Africa. CDK Global, a leading Dealer Management System (DMS), is integral to the daily operations of dealerships, handling everything from sales and financing to human resources and parts inventory. The disruption caused by the cyber attack has highlighted the vulnerabilities inherent in our increasing reliance on technology... Read more here: https://bit.ly/3WtBgT6

A Bounce Back In New Vehicle Sales There was a glimmer of hope in the New Passenger Car Market in the month of July with a 6.8% increase. Watch David Furlonger shed light on the recent data here: https://bit.ly/46ywTdX

July Sales Comment – Soweto TV There was a positive upturn in new vehicle sales in July. A modest 1.5% increase compared to the same period last year. Brandon Cohen provides insights for these recent sales results... See more here: https://bit.ly/3WQTuiU

The August 2024 issue of Automobil has been uploaded for your reading pleasure. As always Automobil brings you the latest automotive and industry news, association updates as well as informative articles on finance, labour, legal, leadership topics and many more. This month we bring you the latest news from Caterham, Bentley, Wesbank, Volkswagen, AMID, the NRCS and... Read more here: https://bit.ly/4frDZ8d

Much needed growth in July’s new vehicle sales 01 August 2024: New vehicle sales received a long-awaited injection of positivity in July, showing growth effectively for the first time in nearly a year. According to data released by naamsa | the Automotive Business Council, the South African new vehicle market grew 1,5% year-on-year to 44,229 units. July sales were only the second month after April to show any growth since July 2023... Read more here: https://bit.ly/46zXRSK