New car sales end FY2024 with a whimper

Thursday 4 July 2024

The Federal Chamber of Automotive Industries (FCAI) ended the 2024 Financial Year with a whimper, with monthly sales declining by 4.2% compared with June last year.

However, total sales over 2022-23 were 12.6% higher than the previous financial year:

FCAI Chief Executive Tony Weber said the yearly sales were encouraging, especially given the ongoing economic challenges.

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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.