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New car sales continue to bounce back hard recording the strongest April sales on record and the sixth consecutive month of growth.
According to the Federal Chamber of Automotive Industries (FCAI), 92,347 new cars were sold in April, up 132% from April last year and also 22% higher than April 2019.
The next chart plots new car sales in rolling annual terms and shows the strong rebound since sales bottomed in October 2020:
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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.
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