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As 2024 comes to a close, it is worth reflecting on the resilience and adaptability that defines South Africa. This year has not been without its challenges. Our nation continues to navigate complex socio-economic hurdles, and at times, it feels like we’ve scored a few own goals. Yet, South Africa’s ability to forge ahead remains remarkable. The peaceful transition to a Government of National Unity is a testament to our democratic spirit, while early signs of energy stability and the South African Reserve Bank’s steadfast approach to inflation management demonstrate a determination to lay a stronger foundation for the future.
In the automotive sector, change is constant. Electric Vehicles remain a topic of interest but face sizable obstacles, including prohibitive costs, uncertain residual values, and a lack of infrastructure. Hybrid, hydrogen, and decarbonised fuels are emerging as more viable alternatives for South Africa, offering a future path tailored to our local realities. As we continue to evolve as an industry, these innovations will likely shape the road ahead.
Globally, 2024 has been marked by significant geopolitical tensions, from conflicts in the Middle East and Africa, along with the ongoing war in Ukraine. The prospect of a Trump 2.0 presidency and its implications for AGOA, trade, and global stability remains a question that will shape 2025.
Closer to home, the durability of our Government of National Unity will face tests, including debates over the contentious BELA and NHI acts. The hope for a full year of uninterrupted electricity remains aspirational but achievable.
On the technological front, 2024 has been the year of exploration, with Artificial Intelligence dominating conversations. From tools like ChatGPT to Copilot and Gemini, AI has sparked both excitement and apprehension. As we look to 2025, the era of adoption will take centre stage. At NADA, our upcoming #NADAConnect conference will focus on the dealer, the economy, and the role of AI, allowing us to explore whether this technology can deliver on its transformative promise.
Amid these developments, as we enter the festive season, let us not forget the unparalleled beauty of our own country. South Africa offers an extraordinary canvas for exploration, from iconic landmarks to hidden treasures. Whether it’s a long road trip or a weekend getaway, I urge you to embrace our local destinations, support the communities you encounter, and, most importantly, travel safely.
It would be amiss of me not to thank you, our members, partners, and the broader automotive community, for your steadfast support and dedication. Your contributions have been invaluable in navigating this ever-changing landscape.
May this festive season bring you joy, rest, and an opportunity to reconnect with loved ones. Here’s to a prosperous and dynamic 2025.
Warm regards,
Brandon Cohen
Chairperson
NADA
Celebrating Excellence at the F&I Industry Awards 2024
The highly anticipated F&I Industry Awards 2024, held on Wednesday 27 November, showcased the pinnacle of excellence and innovation in the automotive financial and insurance sector. The prestigious black-tie event brought together industry leaders, trailblazers, and innovators to celebrate the individuals and organisations that have made significant contributions to the automotive industry.
The annual F&I Awards recognise outstanding achievements and innovation of F&I professionals within the automotive industry. It gives the opportunity to showcase excellence, and for leaders to be honoured for their contributions to the industry. Organisations and individuals who have shown dedication to providing exceptional F&I solutions and services and have made a significant impact on customer experiences and dealership performance, are eligible to enter their success story and be nominated for awards.
South Africa – Automotive Retail Financial Performance Trends January 2023 to September 2024
South Africa ‘s economy is coupled to that of its principal trading partners. If they experience tight economic conditions it impacts South Africa. Slow growth is evident with all key partners. The negative impact of geo political conflict is also having a retarding impact on local growth. South Africa’s capacity to export is stumped by infrastructure constraints on harbour and rail, through private enterprise offers an upside for these two state owned services.
Dealers under these circumstances need to seek operational efficiencies which will contribute to dealer profitability.
Full Throttle
Celebrating achievements and steering industry trends, Lightstone’s latest issue of Auto Insights is your guide through the ups and downs of the automotive landscape. Lightstone provides insights into Indian-built cars topping the under-R300k market and how younger buyers are redefining auto finance. Lightstone also shares key takeaways from SA Auto Week and shares useful product news for dealerships.
#LookForTheSticker: NADA rolls out new dealer decal programme to build consumer trust
The nationwide rollout of NADA’s new dealership decal programme, designed to empower South African consumers in making confident, informed choices about where to purchase or service their vehicles, represents a significant step forward in ensuring transparency, professionalism and trust across the automotive industry. The decal is a badge of assurance, signalling that the dealership adheres to NADA’s Code of Ethics – a commitment to upholding the highest standards of integrity, transparency, and consumer focus.
“Trust plays a pivotal role in the current automotive marketplace, brimming with options. Choosing a dealership with a proven reputation for trustworthiness ensures a smoother and more satisfying experience, backed by excellent service and professionalism,” says Brandon Cohen, National Chairperson of NADA.
NADA In The Media
AutoForum: Celebrating Excellence at the F&I Industry Awards
MSN: New vehicle sales surge 8.1% in November, signalling economic recovery in South Africa
Turning Points Magazine: Yet another month of strong passenger car sales
TopAuto: New “trust stickers” for car dealers in South Africa
aBr: November marked another robust month for passenger car sales
Vaalweekblad: Mahindra Vaal stap met internasionale eer weg!
Stocks24: Tech and value help Chinese cars make inroads in South Africa
Implementation date of Employment Equity Act Amendments
On 14 April 2023, President Cyril Ramaphosa signed the Employment Equity Amendment Act 4 of 2022 into law, amending the Employment Equity Act 55 of 1998. Although no effective date has yet been proclaimed, there are unverified reports suggesting implementation may begin in January 2025.
The RMI has consulted the Department of Employment and Labour to ascertain whether the reports are valid; the department has advised the RMI that the president has signed to effect the commencement date of the Employment Equity Amendment Act and provided them with the promulgation date which is the 1st of January 2025.
The department is in the process of publishing the Notice in the Government Gazette and will communicate with all employers on the way forward. The department is currently working on the regulations because they are unable to implement the law without the regulations.
Any Member that wishes to make an inquiry in this subject regard, can contact the RMI’s Transformation Director, Ms. Nonhlanhla Tshabalala on Noni.Tshabalala@rmi.org.za.
