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 Another car sale slump.
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oldtimer
Team Manager



3720 Posts
joined 19 Jun 11

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Posted - 03 May 2019 :  14:41:21  Show Profile Send oldtimer a Private Message  Reply with Quote
Car sales are dropping substantially. Where will it end?

Maybe it has something to do with the improved quality of cars. It has certainly improved from the point where Falcons and Holdens and others would be visibly rusting and leaking oil early in their life and had only a one year warranty.

https://thenewdaily.com.au/money/consumer/2019/05/03/vehicle-sales-slump-april/

quote:
New vehicle sales slumped in April as part of an ongoing trend tied to housing market woes, natural disasters and this month’s federal election.

The Federal Chamber of Automotive Industries’ figures showed a 22 per cent monthly decrease in sales for April, arresting the uptick in March.

A total of 77,550 vehicles were sold during April, compared to 99,442 last month, and 82,930 in April 2018.

About 320 less vehicles are being sold a day compared to a year ago.

FCAI’s chief executive Tony Weber said April’s result was in line with a wider 8 per cent decline in vehicle sales across the first four months of 2019.

Mr Weber blamed the figures on the housing market decline, tighter lending requirements, drought, floods, and even politics.

“With all these elements currently present in the market, it is no surprise that Australian consumers are conservative in their approach to major purchases at the moment,” Mr Weber said.

Tasmania was the only state where sales improved in the past 12 months, with a 4.4 per cent or 52-vehicle increase.

Victorian sales volumes for the year to April dropped by 10.7 per cent, or more than 2500 vehicles. NSW sales fell by 10.6 per cent, or more than 2800 vehicles.

The biggest percentage dip was in the Northern Territory, with a 24.2 per cent decline, or 214 vehicles.

Toyota topped the list of manufacturer sales for April 2019 with 15,135 units sold, followed by Mazda (7644), Hyundai (6469), Ford (4803) and Mitsubishi (4717).

The vehicle sales decline is the latest in a string of disappointing consumer data releases, which includes subdued building approvals and poor business and consumer confidence.

-AAP

bigem
A polar bear



Australia
15961 Posts
joined 22 Jun 04

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Posted - 05 May 2019 :  00:16:24  Show Profile Send bigem a Private Message  Reply with Quote Copy this URL to Link to this Reply
First it's real estate, then cars, then toys(jet skis, motorcycles, huge color TVs), it's what happens when your economy is flat-lining and in recession!
We can thank all this on the disastrous economic management of the Federal LNP! Their blind faith in having a surplus has destroyed our economy!

Every retail sector is on its arse!
Small businesses are disappearing, car dealerships are closing, penalty rates went, wage growth has gone backwards, spending has stopped, you don't have to be Einstein to see what the problem is!


Colorado, the D-max that John West rejects!

Edited by - bigem on 05 May 2019 00:19:54
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