New car sales crash to 2011 levels amid housing bust

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By Leith van Onselen

The Federal Chamber of Automotive Industries (FCAI) has released its new car sales figures for April, which revealed a heavy 8.1% decline in overall sales relative to April 2018, with the result the worst for April since 2011:

Another month, another sales dip. Australia’s new vehicle market declined in April by 8.9%, making it 13 successive months where sales were lower than the equivalent month, in the preceding 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.