Australian Car Industry News

EXCLUSIVE The car industry plans to use a precedent set by tobacco distributors in 1997 in an attempt to stop state governments across Australia from imposing an additional stamp duty on luxury vehicles.

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.

A proposed merger lodged with the ASX would see Australia’s two biggest new-car dealer groups become one $1.8 billion entity, billed as ‘Australia’s leading automotive group’. Queensland-based A.P. Eagers today announced the conditional all-scrip offer to acquire remaining shares of WA’s Automotive Holdings Group (AHG) that it doesn’t already control. A.P. Eagers already owns 28.84% of AHG’s shares, meaning the proposed risk of a rival bid is seen as very low.

DEALERS are likely to be desperate to do a sharp price on a new car in March – traditionally the second-biggest month of the year for sales – after figures for February revealed the biggest market slowdown since the Global Financial Crisis. It is now 11 months in a row sales have fallen short of the same month the previous year — and even market leader Toyota has been hit hard.

Holden boss Dave Buttner has officially dismissed talks of a takeover in the distribution of its cars – but in a shock move the former Number One has raised the white flag and admitted it is now a “challenger brand” in the wake of record low sales. In wide-ranging media interviews this week, Holden executives conceded the company needs to reinvent itself to remain relevant amid changing buyer tastes, and has even vowed to take on “keyboard warriors” who give it grief on social media.