The auto industry in Australia has been in recession for two years after Holden made the last Australian car
The collapse of Holden was just the tip of the iceberg, as numbers show that car sales in Australia have shrunk in the last two years
- Federal Chamber of Automotive Industries says car sales in long-term recession
- Sales of new vehicles have fallen every month since March 2018
- An uninterrupted downfall began after Holden made the last car in Australia at the end of 2017
The auto industry in Australia has been in recession for two years after the fall of Holden, new figures show.
The Federal Chamber of Automotive Industries has revealed that the corona virus worsened an already bad situation.
Tony Weber, the group’s CEO, emphasized how monthly sales had simply fallen since March 2018, after Holden made his last car in Australia.
“The Australian market for new vehicles has been falling every month for the past 23 months,” he said.
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The car industry in Australia has been in a recession for two years, according to new figures. The Federal Chamber of Automotive Industries has revealed that the corona virus worsened an already bad situation. Depicted are Australians in Darwin after being evacuated from Wuhan in China
“In economic terms, a recession is declared after two quarters of negative growth – and this industry has now seen seven consecutive quarters of negative growth.”
The best-selling cars in Australia in February 2020
1. Toyota HiLux: 3,421 sales
2. Toyota RAV4: 3,375 sales
3. Ford Ranger: 3,202 sales
4. Toyota Corolla: 2,520 sales
5. Hyundai i30: 2,152 sales
6. Sell Mazda CX-5: 1,969
7. Kia Cerato: sell 1,873
8. Toyota LandCruiser: selling 1,839
9. Mitsubishi Triton: 1,673 sales
10. Toyota Camry: sell 1,445
Source: VFACTS data from the Federal Chamber of Automotive Industries for February 2020
The automotive recession started just a few months after Holden’s last Australian-made car, a VF series Commodore, rolled off a production line in Adelaide on October 20, 2017.
It went on in February after General Motors announced that the Holden nameplate would be killed next year.
“There is no doubt that this is an extremely difficult time for the automotive industry – a situation that is unfortunately underlined by the recent announcement of Holden’s withdrawal from the Australian market,” Weber said.
The sales of vehicles in February 2020 decreased with an annual rate of 8.2 percent.
For the first time since 1948, Holden was not even in the top ten for market share.
As a sign of strongly changing tastes, sales of sports vehicles increased by 5.4 percent in the year to February – even in a growing market.
Nearly half, or 49.2 percent, of all vehicles sold in Australia last month were an SUV or four-wheel drive with greater ground clearance.
The automotive recession started just a few months after Holden’s last Australian-made car, a VF series Commodore (photo), rolled off an Adelaide production line on October 20, 2017
This happened when traditional passenger car sales fell at an annual rate of 16.6 percent in February as demand for utes, known as light commercial vehicles, plummeted by 21.7 percent.
The Toyota HiLux was Australia’s best-selling vehicle in February, but monthly sales of 3,421 were 22.8 percent lower than a year earlier.
Toyota was the market leader with a market of 21.4 percent, more than double the 9.2 percent of its closest rival Mazda.
Half of the top 10 bestsellers in Australia were Toyotas, including the HiLux, RAV4, Corolla, LandCruiser and Camry.
The Toyota HiLux (photo) was Australia’s best-selling vehicle in February, but monthly sales of 3,421 were 22.8 percent weaker compared to a year earlier. Toyota was the market leader with a market of 21.4 percent, more than double the 9.2 percent of its closest rival Mazda