Fresh from the Reserve Bank of Australia taking official rates to an all-time low, and making a plea to the Morrison government to loosen fiscal policy, new data shows the car market has stalled | swrighteconomy
Fresh from the Reserve Bank of Australia taking official rates to an all-time low, and making a plea to the Morrison government to loosen fiscal policy, new data shows the car market has stalled.
Car sales are off the bitumen with new figures showing sales for the first six months of the year at their lowest since 2012. They were down by 10.7 per cent in NSW and 11.2 per cent in Queensland, while in Victoria they were off by 7.6 per cent. In perhaps the sickest economy in the country - the Northern Territory - sales were down by 31.4 per cent.So far this year, Australians have bought 554,466 cars. It's the worst opening 6 months of a year since 2012."Over the past 6 months we have seen various conditions and circumstances which adversely affected the market," he said.
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