R1,000 fine warning for every South African motorist, and the resurgence of a critical state-owned transport company

Another Chinese bakkie has entered the local market following LDV’s announcement that the T60 Utility Single Cab has arrived in South Africa.

According to the carmaker, single-cab bakkies remain consistent performers in the local automotive market, which is why it has introduced its own sub-R300,000 offering.

Brent crude oil prices fell by 10 cents, or 0.11%, to $87.62 per barrel following a 5% increase yesterday.

The fluctuation follows US President Donald Trump’s response to Iran’s conditions for peace, with demands that Iran pay compensation for people killed in wars, attacks and protests going back several years.

He also declared that the US had taken control of the strait and was sweeping the waterway for Iranian mines. These developments are likely to complicate efforts to reopen the strategic oil passageway.

As a result, global markets remain unsure of a lasting peace deal between the two nations.

Oil-producing companies also had a mixed weekend, with Saudi Aramco postponing the restart of its 400,000-barrel-per-day Jazan refinery following attacks, while ADNOC continued efforts to move oil from inside the strait.

Through all of this, the rand has remained relatively steady and is currently trading at R16.20 to the US dollar, signalling local investment optimism.

5 important things

South African bank changed the game for motorists: FNB’s tap-to-pay points rolled out at toll plazas across South Africa are among the best changes to long-distance road travel in the country, even for non-FNB clients. [MyBroadband].

R1,000 fine warning for everyone with a driver’s licence in South Africa: The country’s motorists are likely to be on the receiving end of teething problems with the new AARTO Act [TopAuto].

Critical state-owned company rising from the ashes: PRASA is beginning to make a comeback after years of underperformance, reporting that its monthly passenger numbers had returned to levels last seen six years ago [Daily Investor].

American giant exits China’s car market: General Motors has confirmed that Chevrolet will stop selling new cars in China, but will continue production in the country and shift its focus to exporting vehicles to markets outside the US [CarNewsChina].

German auto giant forced to partner with McDonald’s to sell its cars: Following years of success in China, Mercedes-Benz partnered with McDonald’s to hype its newest car, a move that did not work out for the carmaker [Bloomberg].