Australian press - Car dealers on 8th consecutive month of falling sales

Author: Eamonn Sheridan | Category: News

The Australian Financial Review with a piece on falling car sales and what it means for the economic outlook

  • new vehicle sales last month down 7.4 per cent compared with November 2017
  • This was the eighth consecutive month when new-car sales had been below the corresponding month of 2017
We're concerned that the economy is peeling off at a faster rate than the people in Canberra realise," says David Blackhall, chief executive of the Australian Automotive Dealer Association,
  • "It's a wealth effect that is quite significant and serious," he says."People's perception of wealth is a big influence when it comes to discretionary spending, particularly on big-ticket items."

The article goes on with descriptions of weakness in retail elsewhere and concludes with comments from Capital Economics
  • "Household spending isn't falling off a cliff just yet, but we still think that the downturn in the housing market will restrain consumption growth before long" 

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose