Australia’s housing bust has driven the biggest fall in new car sales in nine years, according to the Federal Chamber of Automotive Industries (FCAI):
Sales of new cars in Australia have fallen for 14 consecutive months…
“You’ve got the election, you’ve had a negative impact on lending as a result of the royal commission and you’ve got what I call the negative wealth effect from people’s houses being valued at lower prices,” David Blackhall, the chief executive of the Australian Automotive Dealers Association, said.
