Australia's weird obsession with monster cars

The Federal Chamber of Automotive Industries (FCAI) has released new car sales data for October, which reported that 106,809 cars were sold over the month, up 22.3% from October 2022:

Over the 10 months to October, Australians have taken delivery of just over one million cars “as 2023 continues to break all-time sales records”.

FCAI Chief Executive Tony Weber hailed the achievement, stating “the Australian market has demonstrated incredible strength and vitality throughout 2023, culminating in Australia reaching one million sales in October for the first time”.

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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.

Australia’s weird obsession with monster cars