Jaguar Land Rover Australia believes consumer confidence has returned to the luxury car market following the recent Federal election, where the sitting LNP government was returned to power.
Speaking to local media at this week’s launch of the new Range Rover Evoque, JLR Australia managing director Mark Cameron said the conservative coalition victory has already been felt in the company’s showrooms.
“For our industry, and I’m not being party political here, but last week was the best result we could have hoped for which is the current government remaining in power,” said Cameron. “A bit of confidence may be returning.”
“In fact, last week – we measure our enquiries levels, as you would expect, every week – last week, we had the highest level of enquiries we’ve seen all year. That’s an immediate barometer of a bit of confidence returning.
“People who may have been holding off and seeing what government was going to be in power and what taxation effect that might have on their own personal income, I think that’s probably a good indication.”
The new car industry certainly needs a fillip following 13 straight months of sales decline, overall sales eight per cent down year-on year. JLR Australia has been even harder hit, with combined Land Rover and Range Rover sales down almost 17% over the same period.
It’s not all doom and gloom for the broader brand, though, with Jaguar sales up almost 27% year-on-year, although admittedly, the leaping cat is coming off a low base.
“Hopefully, we’ll see a bit of a return of confidence and the business pick up, particularly in the luxury section.”
It’s a sentiment echoed by Toyota’s Sean Hanley, who told CarAdvice’s Joshua Dowling before the election, “Regardless of who wins (the federal election) it will only stimulate the market because certainty is always a confidence builder".
"It doesn’t matter who wins government, certainty is a stimulant to the market.”