As we have been reporting for all of the past year, 2019 has month by month not been good for car sales. Now the final figures are in and David Brown gives us the news.
Vehicle sales in Australia for 2019 finished where they started with a marked decline compared to 2018. I all nearly an 8% decline although to be fair we still sold over 1 million vehicles.
Which represents selling 2,900 a day, or two a minute.
But by selling 90,000 fewer vehicles, the industry lost approx $2.3 billion in revenue or approx$6.3 million a day.
The reasons for the decline?: Cars lasting longer; movements in exchange rates; slow wages growth, and concern about the future.
All four categories: Passenger; SUV; Light Commercial; and Heavy Commercials have been hit with SUVs showing the smallest reduction down 2.4% while passenger cars were down a massive 16.5%.