The numbers are in and unfortunately 2018 won’t go down as a terrific success for the new car sales industry in Australia.
Sure, more than 1.153 million new vehicles were handed over to customers, but the total was down a significant 14.9% on the bumper 2017 result.
What issue put the brakes on the car industry in 2018? Industry insiders tell us it was the credit squeeze brought on by the banking inquiry.
With tougher rules around securing finance, perhaps that is the case.
VFACTS data showing once again Toyota was the number one car brand in Australia in 2018.
The Japanese brand increased sales and market share, not a bad effort in a shrinking market.
Other brands to make progress despite the headwinds included Mitsubishi, Kia, Nissan and Honda.
It was a terrible year for Holden with sales down by about 30,000 units on 2017, Mazda, Ford, Hyundai and Volkswagen also lost ground last year.
While the HiLux remained Australia’s favourite vehicle, followed by Ranger, Corolla, Mazda3 and Hyundai i30.