According to Tony Weber, chief executive of the Federal Chamber of Automotive Industries (FCAI), new vehicle sales have now experienced an 18th consecutive month of decline in Australia.
“It is clear the slower sales rate the market is experiencing is in line with the broader economic environment in Australia,” Weber said.
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“Of particular concern to the industry is the restrictive regulatory lending conditions currently facing consumers.
“The question has to be asked – are these results telling us we have made it too difficult for people to finance basic purchases in today’s Australia?”
Total sales for September 2019 numbered 88,181 vehicles, a decrease of 6,530 or 6.9%, on September 2018.
Year to date, a total of 811,464 new vehicles were sold, a decrease of 69,541 or 7.9%, on the same period in 2018.
August 2019 results were not much better.
Total sales for the month were reported at 85,633 units, a 10.1% drop year on year. Each segment of the market recorded a downturn, with passenger vehicles dropping 16.7% to 25,783 sales, SUVs down 5.4% (39,040) and light commercial vehicles down 8.6% (17,513).
“There’s no doubt it is a very tough market at the moment,” Weber said, announcing that result.
“Despite the best efforts of the industry, the decrease in sales continues.”
“It is well known that Australia is one of the most competitive markets in the world, and with the current economic environment, it is also one of the most difficult.”
