The Federal Chamber of Automotive Industries (FCAI) latest new car sales report revealed a 2.8% year-on-year decline in overall car sales, with annual sales hitting the lowest level since November 2012 after 16 consecutive falls in sales relative to the same month in the preceding year:
Late last week, John McConnell – chief executive of Australia’s biggest car dealership group, Automotive Holdings Group (AHG) – claimed that financially stretched car buyers are steering clear of new vehicles and instead buying used vehicles. From The SMH:
“If we look at our total results in FY19, we saw private buyer retail drop by 5.4 per cent in volume terms. Our used car sales, over a period which was pretty tough, actually went up by 3.6 per cent,” he said.
