Fuel prices up
The petrol price increased by 4 cents per litre on 1 November. The price of Diesel (0.05% sulphur) increased by 23 cents per litre, while Diesel (0.005% sulphur) increased by 27 cents per litre.
“South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors. International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including shipping costs,” the Department of Energy said in a statement.
The price for Petrol (93 Octane, ULP and LRP) and petrol (95 Octane, ULP and LRP) increased by 4 cents per litre. The department said one of the reasons for the fuel price adjustments was the Rand/US Dollar Exchange rate. “The Rand weakened, on average, against the US Dollar (from 13.13 to 13:62 Rand per USD) during the period under review. This led to higher contribution to the Basic Fuel Prices (BFP) of petrol, diesel and illuminating paraffin by 22.12c/l, 22.19c/l and 22.07c/l respectively,” the department said. – SAnews.gov.za
Kenrich on the ‘move’
Dealer Principal of Kenrich Motors in Grahamstown, Dean Kent is excited about the happenings at the dealership within the next four weeks. Following the announcement by General Motors of its withdrawal from South Africa, Kent mentioned earlier this year that things would stay the same at Kenrich Motors. Now, customers can still take their Opel, Chevrolet and Isuzu vehicles for service at Kenrich Motors’ new home at 1A Hill Street (formerly Maritime Motors). Kent said the newly-situated Kenrich Motors will operate from 1 December, “or maybe even earlier”. Kenrich Value Workshop (KVW) for vehicles out of guarantee and different makes (i.e. Hyundai / Toyota / Ford / Kia / Mercedes Benz / VW), as well as the Kenrich Truck Centre (KTC), will continue to be part of Kenrich Motors.
Formula 1600 finale
Today (Saturday, November 4) will see the Investchem Formula 1600 field take to the Kyalami circuit for the final time this season. Alex Gillespie (50 – ERP Trucking Components), Cameron O’Connor (93 – Repro Supplies / Racing Factors) and Rhodes University student Brad Beningfield (46 – General Energy Systems) could find themselves in the running for the final spot in the top three for 2017. Not allowing for the points drop on the eight round schedule, there is a 16-point gap between the competitors. Until the final race finishes, it cannot be accurately calculated how the points drop will affect the final outcome – but the impact could be significant.
Julian van der Watt (42 – Race Driver SA) and Ian Schofield (10 – Investchem) have already claimed their championship titles for the year, but there’s still work to be done for the other racers.
For Stuart White (8 – Fantastic Racing) second place in the national championship is all but mathematically assured and he should have no trouble taking that second step for the season at Kyalami. The real battle is going to be for third place this season.
With just the one round still to be run, attention has already turned to the 2018 season. In the continued evolution of Investchem Formula 1600 competition, there is another update that will be added to the mix.
Kyalami will mark the end of the 2017 national season for this open-wheel championship. Two races of competition to decide the overall outcome for the year and allow the competitors to set their goals for 2018.
Volvo profit rise
Volvo Cars has reported its financial results for the third quarter and first nine months of 2017. Highlights from the financial report include the following:
Operating profit of SEK 3.669 bn (~R6.3 bn), an increase of 77.5 per cent compared to Q3 2016
Net revenue up to SEK 48.88 bn (~R83.096 bn), up 18.4 per cent versus Q3 2016
Net income of SEK 2.513 bn (~R4.27 bn), an increase of 89.4 per cent compared to Q3 2016
EBIT margin of 7.5 per cent, versus 5.0 per cent in the third quarter of 2016
Global third-quarter retail sales up 10.6 per cent to 135 831 cars
First nine months:
First nine months operating profit of SEK 10.445 bn (~R17.76 bn), an increase of 36.4 per cent compared to the same period in 2016
Net revenue for first nine months of SEK 149.25 bn (~R253.73 bn), up 18.9 per cent vs first nine months of 2016
First nine months net income of SEK 7.262 bn (~R12.35 bn), an increase of 42.1 per cent year-on-year
EBIT margin of 7.0 per cent, compared to 6.1 per cent in the first nine months of 2016
Global retail sales for first nine months up 9.0 per cent to 413 472 cars
Compiled by Stephen Penney; email@example.com