Plunging housing equity lands on new car sales

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By Leith van Onselen

The Federal Chamber of Automotive Industries (FCAI) has released its new car sales figures for February, which revealed a heavy 9.3% decline in overall sales relative to February 2018, with sales also the lowest since February 2012:

On a year to date basis, the industry reported 169,096 sales, or a decrease of 8.4 per cent over the same period in 2018.

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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.