Johannesburg - Despite the current economic conditions and the performance of its umbrella company, General Motors South Africa (GMSA) has a healthy balance sheet, says Managing Director Steve Koch.
"We are debt free, we are not borrowing money. We are not going to government," said Mr Koch, speaking at a press briefing on Friday.
GMSA's performance in June was good, however, he warned that there was a possibility the car manufacturer might not always perform as well as last month.
"We operate in a challenging environment ... which will impact us," he said, adding that it is important for the company to remain competitive.
Concerns were raised into the company's performance in South Africa when last month General Motors in the United States announced it would rebuild itself under court supervision as opposed to liquidation.
At the time, GMSA said the South African arm of the business would not be affected.
The motor vehicle industry is one of the sectors worst affected by the crisis due to a slow down in local demand and in the export markets.
In February, government and leaders in the automotive industry agreed to set up a joint task team to come up with appropriate responses to potential job losses in the industry.
South Africa's motor industry was at the time facing 34 000 job cuts which will throw the industry into a crisis, according to the National Association of Automobile Manufacturers of South Africa (Naamsa) and the National Association of Automotive Component and Allied Manufacturers (Naacam).
