New car sales join Aussie house price smash

Advertisement

By Leith van Onselen

The Federal Chamber of Automotive Industries (FCAI) has released its new car sales figures for December, which revealed a heavy 14.9% decline in overall sales relative to December 2017, driven by a massive 26.3% decline in passenger motor vehicles (PMVs):

“New vehicle sales results in 2018 reflect a challenging climate across the Australian economy including a slowing housing market, tightening of money lending and the drought” Mr Weber said.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.