New car sales join Aussie house price smash

Tuesday, 5 February 2019

The Federal Chamber of Automotive Industries (FCAI) has released its new car sales figures for January, which revealed a heavy 7.4% decline in overall sales relative to January 2018, driven by a 12.0% decline in passenger motor vehicles (PMVs):

Tony Weber, CEO of the Federal Chamber of Automotive Industries (FCAI) attributed the results to lower levels of consumer confidence.

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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.