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The Federal Chamber of Automotive Industries (FCAI) has released new car sales data for May, with sales nationally down 6.4% from the same month last year:
The annual fall was broad-based, with PMVs (-14.7%), SUV’s (-4.0%) and commercial vehicles (-4.9%) all falling.
According to Tony Weber, CEO of FCAI, global supply chain issues continue to constrict sales:
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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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