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With Australian new car sales plummeting for 23 consecutive months:
Martin Ward, CEO of car dealership AP Eagers, which has a network of 200 dealerships across Australia, claims the Australian automotive sector needs a special stimulus package from the federal government. Ward says measures the sector would like to see the government consider include accelerated depreciation for companies to buy new cars and a ‘cash for clunkers’ scheme, which he says needs to run over a 18-month period:
It needed to extend over an 18-month period to ensure that it was not just a short-term ”sugar hit”.
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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.