Car sales stalled
There may be a structural element to some of this as new vehicles last longer?
But anyway, 2019 was the worst year for new vehicle sales since 2011, with new vehicle sales of 1062,867 over the calendar year.
This was a decrease of-7.8 per cent from 2018.
Commsec fed the figures into a handy chart:
The figures for the month of December were marginally better, down by -3.8 per cent from a year earlier, with New South Wales showing some signs of a recovery.
Source: Commsec
The figures for the month of December were marginally better, down by -3.8 per cent from a year earlier, with New South Wales showing some signs of a recovery.
There are no longer production figures to report, as the figure in Australia is now zero.
Some of the doomsday forecasts for massive job losses have not really come to pass, though, with Geelong, Melbourne, and Adelaide unemployment rates having generally come down in recent years.
