Australian new motor vehicle sales data for April are out and incredibly the total seasonally adjusted sales changed by just 2 units – that’s just 2 cars – the month before to 92,156.
The ABS says the trend “decreases for seventeenth consecutive month.”
Indeed looking at the rolling 12-month sales, the rate of growth, and this month’s sales, which is the weakest in almost 2 years, suggests more tough times like ahead for car retailers.
Certainly if the budget hits confidence the way that the airwaves yesterday suggested it could, then it seems only a matter of time before sales head back under 90,000 per month.
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