The Federal Chamber of Automotive Industries (FCAI) has released new vehicle sales statistics for May 2020, and those figures show a continuation of the steep decline in sales witnessed in April.
Across the nation, 59,894 vehicles were sold during May 2020 – a 35.3 per cent reduction in sales when compared to the May 2019 figure of 92,561 vehicles.
The Passenger Vehicle Market was down by 15,054 vehicle sales (-52.1 per cent) over the same month last year; the Sports Utility Market was down by 12,285 vehicle sales; the Light Commercial Market by 4,387 vehicle sales (-22.9 per cent); and the Heavy Commercial Vehicle Market by 941 vehicle sales (-26.5 per cent) versus May 2019.
Toyota was the market leader in May, followed by Mazda and Hyundai.
“May 2020 is the 26th consecutive month of negative growth for the market, and the causative factors are well documented – droughts, floods, bushfires, tight lending conditions, unfavourable exchange rates, and political uncertainty,” said Tony Weber, chief executive of the FCAI.
“Now, we add to that the devastating effect of the COVID-19 pandemic over the past three months.
“While COVID-19 is primarily a health crisis, it has brought about an economic crisis as well. These are difficult times for the global and domestic economy, and this of course has repercussions for the local sales sector, including the automotive industry.”