Has the Coronavirus had an impact on car sales
Car sales have been declining for several years but now they are in free fall.
In March 2020 sales fell by nearly 18% compared to 2019.
Toyota and Subaru did manage to hold their numbers while Kia continued to increase and for the first time in Australia, Kia outsold its corporate cousin Hyundai. Coronavirus
Price could be coming an even bigger issue with MG, Haval and Great Wall all showing large percentage increases. For the month MG was the 16th best selling brand outselling: Audi, Lexus Land Rover, Volvo. Coronavirus
Anecdotal information suggests that the sales in March were progressively worse as the month progressed and April, which is usually a slow month for sales, has started disastrously.
It would be easy to blame the recent lockdown and associated economic impact for the declining car sales. However car sales have been declining for several years, but now they are in free fall. In March 2020 sales fell by nearly 18% compared to 2019.
I have dusted off my old Economics degree, done some modelling analysis and have come up with the prediction that by the end of June 2020, the new car sales will be close to 50% down on last year YTD.
April, May and June have the potential to be disastrous for car sales. Some brands could be close to 70% down in sales month to month from last year.
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