Finance Funding Australia’s CEO Comments on Australia’s Hot Car-Buying Streak
Finance Funding Australia
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A recent news article reported that Australia’s car-buying streak is still running despite last year’s all-time high, prompting a response from Finance Funding Australia’s CEO.
According to a recent article on news.com.au titled New car buyers in Australia break new sales record in January, Australia is headed for another record year in car sales despite hitting an all-time high last year. This prompts a commentary from Justine Milankovic, CEO of car loan company Finance Funding Australia.
“It is pretty exciting that the streak is still running—there were some people who didn’t think it would last into this year,” said Milankovic.
Provisional data shows that car sales have gone up 10 per cent in January 2013 compared to January 2012. Last month’s car sales of more than 84,000 units broke the January record from 2008 of 82,270 cars sold.
The Mazda3 was once again the bestselling car in Australia, beating out Toyota Corolla and Toyota HiLux.
“We’ve seen this in our work providing car loans to Australians. People are gravitating towards smaller cars, and the Mazda3 has great features at a great price. These newer small cars give enough interior room adding on too much bulk, and that’s popular with consumers,” said Milankovic.
According to Mazda boss Doug Dickson, Australians’ personal savings are at all-time highs. He believes this will lead to another record car sales year for Australia.
Toyota also predicts that 2013 car sales will pass 2012’s record high of 1.1 million cars sold.
However, the Federal Chamber of Automotive Industries believes that car sales will fall to 1,075,000, just shy of 1.1 million.
“Forecasts often have a margin of error associated with them, so I wouldn’t put too much weight on the fact that the Federal Chamber of Automotive Industries predicted car sales lower than 1.1 million,” said Milankovic.
“That number is awfully close to 1.1 million, and considering the fact that forecasts contain assumptions and rounding, the small difference should tell you that it will still be another strong year for car sales,” he continued.
Consumers interested in buying a car can contact the car loan specialists at Finance Funding Australia.
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