The year of 2019 was a testing period for industry and business in Australia on many fronts, with challenges across the economic, financial, political, environmental, and business sectors.
All of these factors, in turn, had a detrimental effect on the automotive industry in Australia.
During the year, the national economy grew by 1.7 per cent, with low income growth, low consumption growth, a flat real estate market and subdued business investment acting as contributing factors to this year-end figure.
The Royal Commission into Banking examined Australia’s banking, superannuation, insurance, and financial advice sectors, handing down 68 recommendations on completion. These included protocols for tighter restrictions on personal and business lending, a process which strongly affected new vehicle sales.