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JLR boss Adrian Mardell is stepping down

JLR boss Adrian Mardell is stepping down

TimesLIVE2 days ago
Jaguar Land Rover (JLR) chief Adrian Mardell will step down after more than three decades at the company, having said he wanted to retire after three years as CEO, a spokesperson for the carmaker said on Thursday.
His successor will be announced in due course, the spokesperson added.
Mardell joined JLR in 1990, became CEO in November 2022 after a stint as CFO from June 2019 and spearheaded a major brand revamp at Jaguar.
During his tenure, the British luxury carmaker, a wholly owned subsidiary of India's Tata Motors, posted its highest profit in a decade, eliminated £5bn (R120,176,400,000) in debt and posted its strongest operational performance to date.
JLR in April paused exports of its British-made vehicles to the US for a month after President Donald Trump imposed a 25% tariff on all imported cars. It resumed exports in May.
The US, which accounts for nearly a quarter of JLR's global sales, is a key market for its high margin Range Rover and Defender models.
JLR has no manufacturing presence in the US and its Range Rovers are built in Britain, subject to a 10% levy, while its Defenders are assembled in Slovakia, which faces a 15% duty.
Jaguar has plants in Britain.
Mardell was among the guests at the opening of Trump's new golf course in Scotland on Monday, part of the US president's five-day visit to the UK.
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Daily Lotto results: Saturday, 2 August 2025
Daily Lotto results: Saturday, 2 August 2025

The Citizen

time8 hours ago

  • The Citizen

Daily Lotto results: Saturday, 2 August 2025

Tonight's jackpot is R600 000! Here are your winning Daily Lotto results for 2 August 2025. Get the Daily Lotto results as soon as they are drawn on The Citizen. Daily Lotto results for 2 August 2025: The winning Daily Lotto numbers will appear below after the draw. Usually within 10 minutes of the draw. You might need to refresh the page to see the updated results. 00, 00, 00, 00, 00. Next DAILY LOTTO jackpot is estimated at R600,000! PLAY NOW or on the Mobile App. Players must be 18 years or older, play responsibly. ITHUBA is the proud operator of the National Lottery. — #PhandaPushaPlay (@sa_lottery) August 1, 2025 How to play Daily Lotto in SA? If you are buying a ticket in-store: Pick up a betslip in any lottery store. Choose five numbers between 1 and 36 or ask for a Quick Pick. Entries cost R3 each. You can play a max of R150, but you are allowed to play multiple boards. Select how many consecutive draws you wish to enter, up to a maximum of 10. Leave blank for a single draw. Take your betslip to the teller to pay for your ticket. Write your details on the back of your ticket in case you need to claim a prize. If you do not sign your ticket and you lose it, anyone can use it to claim the prize. If you are playing online: Set up a lottery account here and make a deposit to pay for tickets. Choose five numbers from 1 to 36 or select 'Quick Pick' to generate a random set. Repeat this on as many boards as you want to play. Decide whether to enter a single draw or multiple draws. Confirm and pay for your entry. What time is the Daily Lotto draw? The Daily Lotto draws take place shortly after 9:30pm every evening, and tickets can be bought until 8:30pm. Is there a winner every day? Yes. The jackpot prize money is guaranteed to be given away even if no one matches all five numbers. When this happens, the jackpot is split between everyone who matches two or more numbers. Visit and go to the How to Play Daily Lotto section to learn more.

July car sales hit six-year peak
July car sales hit six-year peak

TimesLIVE

timea day ago

  • TimesLIVE

July car sales hit six-year peak

Despite the looming threat of tariffs, South Africa's domestic new-vehicle market continued full throttle in July, delivering the highest monthly sales since October 2019. In the tenth straight month of increased volumes, 51,383 units were delivered last month, up 15.6% from July 2024, which industry body Naamsa attributed to improving consumer confidence, favourable credit conditions and a steady recovery in disposable incomes. It firmly re-established pre-Covid-19 levels and momentum in the market's recovery. Passenger cars were the best performing segment last month at 36,248 units, the highest since January 2017 and a gain of 20.1% compared to July 2024. Car rental sales accounted for 14% of last month's figure. Sales of new light commercial vehicles, bakkies and minibuses at 12,356 units were 6.9% higher than July 2024. Medium trucks sold 703 units (+13.9%) while heavy trucks and buses dropped 1.3% to 2,076 units. The much-welcomed decision by the Reserve Bank in July to further reduce the repo rate by 25 basis points to 7% — its third cut this year — will further inject much-needed stimulus into the economy, said Naamsa CEO Mikel Mabasa. 'Encouragingly, household credit extension has continued to improve, while consumer sentiment is rebounding — especially among middle- and upper-income groups. The implementation of pension reforms has also unlocked additional liquidity for big-ticket purchases such as vehicles. This positive trend is further reinforced by improved logistics performance, a more stable electricity supply and a sustained demand for high-spec, cost-effective vehicles across market segments,' he said. Year-to-date sales of 330,274 new vehicles this year were 13.9% up on the first seven months of 2024. 'There remains a direct correlation between the rate-cutting cycle and the upturn in new vehicle sales,' said Lebo Gaoaketse, head of marketing and communication at WesBank. 'The market should continue to expect growth if interest rates remain lower.' 'The cumulative interest rate cut of 1.25% since the cycle started is saving a typical new car buyer about R257 per month. The sweet spot of the new vehicle market is a price point of R370,000 according to WesBank's book. More critically, the interest saving over the loan period could be over R18,500, which shows the impact lower rates have on stimulating the market and aiding affordability.' Vehicle exports have shown resilience in the face of the 25% automotive tariffs imposed by the US in April. Export volumes last month decreased 1.9% to 35,379 units compared to July 2024, but year-to-date exports were still 2.5% ahead of the same period in 2024. However, the 30% tariffs imposed on South Africa from this month are expected to cause economic headwinds for some local motor manufacturers. 'Despite global uncertainty and the looming threat of tariffs, South Africa's vehicle market continues to show remarkable resilience,' said Brandon Cohen, chair of the National Automobile Dealers' Association (NADA). A key contributor to the robust passenger market is the growing influence of Chinese and Asian vehicle brands, he said. Four Chinese importers are now among the top 15 best-sellers, including newer entrants such as Omoda/Jaecoo and Jetour. 'Financial institutions have also shown confidence in these brands by offering white-labelled finance packages, further supporting their market penetration. Meanwhile, manufacturers like Kia and Mahindra continue to feature prominently in the top 10, reflecting strong demand for affordable, value-driven options, a trend that has also underpinned Suzuki's consistent success. 'The rapid rise of Chinese and Asian brands reflects a shift in buyer preferences towards affordability and value. It's a trend we expect to intensify as more brands enter the market,' said Cohen. Toyota retained its lead as South Africa's most popular brand in July. The top 15 selling brands were: 1. Toyota — 12,694 2. Suzuki — 6,257 3. Volkswagen group — 5,738 4. Hyundai — 3,161 5. Ford — 2,877 6. GWM — 2,436 7. Isuzu — 2,427 8. Chery — 2,160 9. Kia — 1,891 10. Mahindra — 1,441 11. Renault — 1,320 12. BMW group — 1,249 13. Nissan — 1,190 14. Omoda and Jaecoo- 1,069 15. Jetour — 717

More Than Insurance—180 Years of Standing by South Africans
More Than Insurance—180 Years of Standing by South Africans

eNCA

time2 days ago

  • eNCA

More Than Insurance—180 Years of Standing by South Africans

At Old Mutual, we know that life doesn't always go according to plan. When the unexpected happens, what matters most is having a partner you can trust. For the past 180 years, that's exactly what we've been to South Africans—a consistent, dependable presence in uncertain times. From our very first policy issued in 1845 to paying out more than R14.7 billion in claims in 2024, we've stood firmly beside individuals, families, and communities, helping them protect what matters most. And as we mark this incredible milestone, our promise to support you remains as strong as ever. Claims that Make a Difference Take Delwin, for example. At just 29, his wife Marece was diagnosed with stage 3B lung cancer—just a month after taking out life and severe illness cover with Old Mutual. Despite the shock, she lived for more than two years and continued to care for her family. The cover enabled them to afford essential treatments, including an ±R800,000 surgery, which significantly eased their financial burden. Marece's story is a powerful reminder that illness can strike at any age—and that having the right cover, with the right advice, can make all the difference ' Our role is to help customers through tough moments—and we take that responsibility quite seriously,' says Kavir Ramjee, Head of Protection at Old Mutual. In 2024, we saw clear trends in the claims landscape that show just how unpredictable life can be: 73% of severe illness claims were for the 'Big Four': cancer, coronary artery bypass graft, heart attacks and strokes. * 85%of disability claims came from customers aged between 30–60. More than half (51%) of disability income claims were for Musculo-skeletal disorders. Most severe illness claims stemmed from non-communicable diseases (NCDs) —chronic conditions not caused by infection but influenced by the environment and lifestyle. While genetic risk factors can't be changed, we can reduce environmental risks like poor diet, inactivity, smoking and alcohol use. To help you understand what others like you have faced—and how you can prepare—we've created the Old Mutual Claims Tool. It gives you the power to explore real claims data from people in your age group and gender, across death, disability, and illness, over. With this insight, you can make more informed decisions about the protection that truly matters to you. These insights not only show how we support you, but they also highlight the importance of planning ahead and being financially prepared when life happens. Why Financial Advice Matters More Than Ever Our ability to pay billions in claims year after year isn't just about our financial strength. It's rooted in the quality of advice and the personalisation of each plan. Choosing the right cover isn't one-size-fits-all. It depends on your life stage, your job, your goals, and your financial responsibilities. That's where our advisers come in. At Old Mutual, advisers don't simply sell insurance. They help you understand your risk, tailor your plan, and choose the benefits that matter most, so that when life changes, your cover doesn't fall short. With the right advice, and customised risk plan, you are not just buying cover -you're building security and peace of mind. Recognised for Strength, Built for the Future In 2024, Old Mutual was honoured to be: News24 Long-Term Insurer of the Year, an award we received again in March of this year. * Top 10 Brand Finance South Africa's Strongest brands across all sectors.* These awards reflect what drives us most: serving customers well and building a more secure future for all. The Next 180 Starts with You We're incredibly proud of our legacy. But we're even more excited about what lies ahead. We're investing in smarter technologies, more personalised support, and more accessible solutions to meet your needs—today and tomorrow. Because at Old Mutual, we don't just sell cover. We build confidence. We help you protect what matters. And we're just getting started. Old Mutual. A certain friend in uncertain times. That's our 180-year promise to you. Speak to a trusted financial adviser today or visit to learn more about how we can help you protect your future. Sources: Old Mutual Claim Stats Report, 2025 Brand Finance South Africa 100, 2025

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