New car sales down 9.1% in October

New car sales have gone backwards for the 19th month in a row, the country’s peak motor industry group says.

The number of vehicles sold across Australia last month was down 9.1 per cent compared to October 2018, according to a tally issued by the Federal Chamber of Automotive Industries (FCAI) on Wednesday, following a 6.9 per cent slide in September.

“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,” FCAI chief executive Tony Weber said.


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