Buckle up as car sales experience a bumpy ride
Around the world, car sales are declining. From the United States to China, car lots are suffering from increasing unsold inventory. In China, for example, automobile sales fell 13.9 per cent in November from a year earlier, the steepest such drop in more than six years, and for 2018, car sales recorded their first annual fall in two decades, declining 6 per cent.
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
dane campbell
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Do punters previously in the market for a new car end up down the value chain buying used? Or are their wallets firmly stuck in the back pocket for now? Carsales for example looks to have bottomed in December….