New car sales to keep on falling

Monday 18 March 2019

From mid-2018, new car sales across Australia nose-dived on the back of the housing crash, with Victoria (-11.7%), New South Wales (-11.0%) and Western Australia (-8.3%) – i.e. the markets where house prices are crashing – recording the biggest year-on-year falls in new car sales:

Now, Roy Morgan Research has released a survey showing that intentions to purchase a new vehicle has plummeted to the lowest level since November 2014, and is running below the 15-year long-term average:

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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.