Housing crash smashes 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 March, which revealed a heavy 7.1% decline in overall sales relative to March 2018, with first quarter sales also the lowest since 2014:

It’s the lowest March sales tally since 2014, when 97,267 vehicles were sold. It also means there have now been 12 successive months of sales decline relative to the corresponding month in the previous year…

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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.