26 October, 2020, 6:55 am Central - 24°C Rain

No lay offs despite 40% decrease in sales- Asco CEO

No lay offs despite 40% decrease in sales- Asco CEO

By Shanil Singh
Monday 12/10/2020
Asco Motors CEO Craig Sims.

Asco Motors CEO Craig Sims says they have not laid off any of their staff despite a 40 percent drop in sales due to COVID-19.

Sims says they employ around 325 staff and no one has been laid off, however about 20 workers in the Western Division are on reduced hours.

Their hours have been reduced by 20 percent.

Asco is also leasing vehicles to the government under the leasing contract.

Sims says the Reserve Bank has stated that new and used vehicle sales are down by 50 to 60 percent and they are fortunate to be operating slightly higher than that.

He adds they have seen an increase in demand since the reduction in taxes in the 2020/2021 National Budget in terms of foot traffic and the number of quotes that have been issued.

Sims says they are resetting their expectations at the moment and are happy that they are meeting their targets.

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