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Electricity and fuel price hikes will impact negatively
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Electricity and fuel price hikes will impact negatively
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Petrol price double-blow for South Africa
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South African motorists and businesses are going to be hit with petrol price increases in March – while fuel tax hikes in April, the rising cost of electricity courtesy of Eskom, and low business confidence will going to keep the pressure on the country’s already battered economy.
Small and medium-sized businesses (SMEs) face a particularly prolonged Covid-19 recovery as they deal with increasing fuel prices in the coming months, say economists at FNB.
The hikes come at a crucial time, as SMEs are still trying to recover from the financial impact of Covid-19, coupled with lower economic growth, said Palesa Mabasa, FNB segment head for Gauteng South West.
NADA expects to see stable & positive year for automotive sector A 13.3% drop in new car sales has been recorded in February compared to the same period a year ago. Picture: 123rf.com
33 days ago
CAPE TOWN - A 13.3% drop in new car sales has been recorded in February compared to the same period a year ago.
According to Naamsa, the automotive business council, 37,521 new vehicles were sold last month.
National Automobile Dealers’ Association (NADA) chairperson Mark Dommisse: The month of February saw new car sales for the entire industry up a very good and encouraging 3,500-odd units from the month of January, which is very positive, however, still quite down from the year before, before we went into lockdown.
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