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The Federated Chamber of Automotive Industries (FCAI) has released new car sales figures for March, with sales volumes falling 3.9% year-on-year:
FCAI Chief Executive Tony Weber talked up the results saying “March was a solid month for new car sales given the supply constraints car makers are facing both domestically and internationally”.
“Year to date sales have increased 2.5%, which is a better indicator of the underlying strength of the market”.
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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.