New car sales tumble by 48.5 per cent against the previous corresponding period in April 2020 to stand at 38,926 sales. Should not come as a big surprise as the nation was in lock-down.
- The decline of 48.5 per cent marks the largest single decrease of any month since 1991.
- The YTD sales totalled 272,287 sales, down by 20.86 per cent against the previous corresponding period.
- As per the chief executive of the Federal Chamber of Automotive Industries- Tony Weber, the COVID-19 outbreak has had a considerable impact on the monthly sales, which further reflects a downturn in the broader economy.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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