VFACTS May 2020: New car market begins recovery

A total of 59,894 vehicles were recorded for the month of May, down 35% year-on-year.

Official VFACTS figures released by the Federal Chamber of Automotive Industries (FCAI) reveal the market was 35.3 per cent down in May, compared to the same month last year.

Sales of new vehicles are now 23.9 per cent down year-to-date, following the sixth consecutive monthly decline this year and the sharpest May decline since VFACTS reporting began in 1991.

A total of 59,894 vehicles were recorded for the month of May. Although that figure reflects an unequivocal plunge in sales, it is still markedly better than the 48.5 per cent decline registered in April, when only 38,926 vehicles were reported as sold.

As state and territory governments begin easing restrictions on travel and retail, there is renewed optimism that things are beginning to steady for the new car market.

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