New car sales plunge into black hole

Wednesday, 6 May 2020

The Federal Chamber of Automotive Industries (FCAI) has released its new car sales report for April, which saw annual car sales collapse to their lowest level since March 2010:

It was the 25th consecutive month of decline, with annual new car sales now running 17.5% below their March 2018 peak.

According to FCAI:

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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.