Automobile industry asks government for help
By Mikhaila Crowie
07 Febraury 2009
South Africa’s crisis stricken motor industry has asked the government for assistance to save jobs.
The National Association of Automobile Manufacturers (Naamsa) said they have requested that the government study ways in which to provide stimulus to the industry without any disruptions to monetary policy.
The car industry has asked for “at least” a R10 billion loan.
It has been estimated that 22 500 jobs are on the line.
Car manufacturer, Volkswagen said it would cut 400 jobs.
Naamsa President John van Zyl says if no assistance is forthcoming, there will be casualties and job losses.