The Federal Chamber of Automotive Industries, the peak body for the automotive industry in Australia, has released new vehicle sales figures for the month of September 2019.
According to Tony Weber, chief executive of the FCAI, new vehicles have now seen the eighteenth consecutive month of decreasing sales in the Australian market.
“It is clear the slower sales rate the market is experiencing is in line with the broader economic environment in Australia.
“Of particular concern to the industry is the restrictive regulatory lending conditions currently facing consumers,” Mr Weber said.
“The question has to be asked – are these results telling us we have made it too difficult for people to finance basic purchases in today’s Australia?”
Total sales for the month numbered 88,181 vehicles, a decrease of 6,530 vehicles, or 6.9 per cent, on September 2018. On a year-to-date basis, a total of 811,464 new vehicles were sold, a decrease of 69,541 vehicles, or 7.9 per cent, on the same period in 2018.