“We welcome Finance Minister Enoch Godongwana’s decision to cancel the proposed 0.5 percentage point VAT hike. In an already pressured economy, this move brings much-needed relief to consumers and small businesses alike.
For the automotive industry, where affordability is a key concern, the decision helps ease the cost burden on vehicle maintenance, parts, and services. It’s a positive step towards stimulating consumer confidence and supporting sustainability in our sector.”
– Ipeleng Mabusela, CEO Strategy and Corporate Support, Retail Motor Industry Organisation (RMI)