Car dealers demand stimulus

Advertisement

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”.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.