New vehicle sales slumped 8.9% in April

New vehicle sales slumped again in April as part of an ongoing trend tied to housing market woes, tightening of loans, drought, floods and the upcoming Federal election.

The Federal Chamber of Automotive Industries’ figures showed an 8.9 per cent decrease in sales for April from the same period last year.

“The results for April are in line with trends for year-to-date 2019. We have seen a decrease of around eight per cent across the first four months of the year,” FCAI’s chief executive Tony Weber said in a statement on Friday.

AAP

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