Even Shirley Bassey’s golden voice couldn’t put a glint in the eye of Australia’s new car retailers who must be asking ‘Where Do I Begin?’ as big spenders stay away from the dealership.
The Federal Chamber of Automotive Industries described a “lax market” on the publication of a 5.3% drop in October 2018 reported sales, and October 2019 just recorded another decline of over 9%.
FCAI chief executive Tony Weber says the inability to secure vehicle loans has devastated dealers to lose 78,000 sales over last year.
“While the drought and other domestic conditions are impacting the market, our key concern is the effect over-regulation of the financial sector is having on new vehicle sales,” he reports.
“The FCAI and our members have been concerned about the risk-averse approach to lending in Australia for some time and see improved access to finance as a key to driving economic growth in 2020,” Weber explains.
Sales in all three major segments have been hit yet again, with the typically most popular segment, SUVs, losing 3%, and the formerly glorious passenger market has been kicked in the guts again, losing over 15% of its October 2018 reported sales.
Light commercial vehicles lost what could be described as the sales equivalent of a ladder and two sheets of plaster off the roof on the freeway – down 11% on last year’s October reported sales.
Private sales are depressed by a further 5.2% over October 2018 which was also a shocker month that saw a 12% slump against October 2017 figures.
Government and business fleet buys are also in retreat, down 17.5% collectively against October 2018.
Number one seller Toyota Hilux might be sold as “unbreakable”, but its 3516 reported sales couldn’t crack its October 2018 results of 4401 reported units sold and took a 20.1% thumping in the dealership, with only the Corolla taking a bigger hammering of 20.5%.
Ford’s Ranger is down 10%, Hyundai i30 managed to gain 8.2% on reported October 2018 sales, Toyota’s RAV4 in fourth appropriately enough was up 34.8% followed by a Toyotathon of aforementioned Corolla in fifth, and LandCruiser in sixth thanks to a 6.6% gain on October 2018 to the tune of 2101 reportedly sold units.
Kia Cerato stays true to form with a 36.5% gain in reported sales – 1827 versus 1338 last year – and the Mazda CX-5 held on in eighth place after a 14.6% fall, meanwhile Hyundai’s Tuscon is up 10.7% to hold Nissan’s X-Trail (down 3.2% over October 2018) to tenth place.
All brands held a stalemate in the top 10 rankings with Toyota tack-welded in first, Mazda moored in second, Hyundai heeled in third, Mitsubishi mated to fourth place, Ford firmly in fifth, Kia keeping watch in sixth, Nissan nestled in seventh, Volkswagen vexing ninth-placed Holden as it holds on and holds back Honda honourably taking up the rear.
Subaru perches in 11th place with 34,004 reported sales, waiting to pounce in December.
Join the conversation