The new year has brought with it old news – the Australian automotive market remains in serious decline.
And if the market continues to underperform as it is, new vehicle sales will fall to their lowest level since 2009.
VFACTS figures reveal that sales last month were 12.5 per cent lower than sales in January of 2019, which was the worst January result since 2012. Last month has limboed below even that result, with a tally of 71,731 vehicles sold, a total that is lower than any previous January result since 2009.
If sales remain on track for a 12.5 per cent downturn over the course of the full year that will reduce the annual market below one million sales. The last time the market was below one million sales was also 2009.
“Given the broad range of environmental, financial, international and political issues facing Australia during January, it is no surprise to see the new vehicle market has reported a conservative start to the year,” said Tony Weber, chief executive for the FCAI (Federal Chamber of Automotive Industries).
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