A car promotion caught my attention this week. The offer includes a $2,000 discount on a new model, 1% finance and a $1,500 loyalty bonus for repeat customers.
This deal was a reminder of the industry’s brutal trading conditions and auto-dealer desperation to sell cars. But looking ahead, consumers might start buying more cars again, as interest rates fall and the industry’s awful conditions abate.
It’s a bloodbath for car sales. The Federal Chamber of Automotive Industries this month described Australia as “one of the world’s most difficult (car) markets”, after a shocking sales drop.