The Federal Chamber of Automotive Industries (FCAI) has released VFACTS sales figures for February 2020 revealing that consumer confidence has taken an added hit over summer.
Disastrous bushfires, the corona virus (covid-19) outbreak in China and on-going socio-economic uncertainty at home are to blame, the FCAI says.
The economy is going through difficult times anyway, but the bushfires and the spread of the disease around the globe have heaped catastrophe upon catastrophe for automotive retailers and importers.
Total sales in February amounted to 79,940 new vehicles, 7162 fewer than February of 2019. That’s a decline of 8.2 per cent for the month, year on year. Combined with the 12.5 per slump in January, sales for the year to date (151,671) have shrunk by 10.3 per cent overall.
Although February sales for 2020 are poor enough, they’re worse still when compared with February 2018 (95,999 vehicles sold that month).
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