The head of BMW in South Africa says the brand is doing well despite the influx of cheap Chinese and Indian vehicles, but he voiced concern at the impact on the market for second-hand cars.
Peter van Binsbergen, CEO of BMW Group South Africa, told Business Times the argument that consumers need cheap new cars is far too single track, because its costing South Africa jobs in the long run, its costing the economy, and its also affecting the consumer.
A healthy used-car market is essential to keep the whole ecosystem running, he said.
