Car dealers are reporting a sales recovery since last month's Federal Election, but Australian new car registrations continued to decline in May, the 14th consecutive month of sales slowdown.
VFACTS data for May 2019 recorded 92,561 new vehicle registrations, down 8.1% from the 100,754 achieved in May 2018. That perfectly matches the state of the market in 2019: year-to-date sales are down 8.1% compared to the same point in 2018.
New-car sales to accelerate after the Federal election
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Regardless of who wins the upcoming Federal election, new-car sales are expected to surge in the second half of this year – following the longest slump since the Global Financial Crisis in 2008-2009.
Official car sales figures show April, the 13th month in a row in negative territory, took the biggest hit with eight of the top 10 brands posting significant declines.
Finance and falling house prices affecting new car sales - Mazda
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The new car market is likely to dive further this year, with tougher rules on financing and the falling price of houses in the majority of capital cities around Australia having a negative impact.
That's according to Mazda Australia's boss, speaking with CarAdvice at the Geneva motor show.
NSW opposition plans to slug car buyers with the highest stamp duty in Australia
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NSW Labor leader Michael Daley plans to increase stamp duty to the highest rate in the nation – to 7 per cent on vehicles priced above $100,000.
This would be in addition to the 33 per cent Luxury Car Tax and 10 per cent GST already levied on cars in this price range.
Mr Daley says he wants the “wealthiest in society” and “the big end of town” to pay for more nurses as part of his $240 million plan to legislate minimum nurse-to-patient ratios.
