A greater reluctance by young people to become car owners is worsening the slide in new vehicle sales that has now lasted for longer than the global financial crisis in 2008 and 2009.
A 10.1 per cent plunge in the number of new vehicles sold in Australia in August to 85,633 vehicles compared with a year ago had the nation's 3500 car dealers frustrated at banks and financiers for making it harder for potential buyers to obtain a loan.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
