Chip shortages hammer new car sales

Monday, 6 December 2021

Australian new car sales dived 8.1% year-on-year in November on the back of the supply disruptions, according to the Federal Chamber of Automotive Industries (FCAI).

Only 80,639 new cars were sold in November compared with 95,205 in November 2020 and 84,708 in November 2019.

The next chart plots new car sales in rolling annual terms and shows the COVID rebound has well and truly ended:

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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.