Mpumalanga education MEC Sibusiso Malaza lied when he said he would do something to assist dozens of farm school learners who are without scholar transpot.
The report was released by Bloomberg this week and shows how much each of them profits per vehicle sold.
The report shows BMW and Mercedes-Benz made around R63 400 per vehicle they sold in 2016 and Porsche scored around R218 800 while Ferrari raked in R1.14 million per car.
The automobile industry is a global multi-billion industry, with companies making huge profits and other making losses.
Porsche is part of the Volkswagen Group, BMW is owned by the BMW Group and Mercedes Benz is owned by the Daimler Group.
Bloomberg reports that Porsche moved almost 238 000 cars and of these were 166 509 Cayennes, a total operating profit of around R53,5-billion.
They say this Porche figure represents a 14% increase over 2015, making a net profit of R218 800 per car – compared to a 9% increase in 2015.
(edited by MLM)
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