RACV says now is the right time for prospective car buyers to snag a bargain.
It comes after the release of the Federal Chamber of Automotive Industries’ VFACTS data shows that new vehicle sales dropped 9.8% in November, making it the 20th month in a row of sales declines.
While it’s not great news for the new car industry, RACV’s Senior Motoring Journalist Tim Nicholson said it is a good time for the car-buying public.
“Some dealers have over-estimated the number of vehicles they were going to sell this year, and they’ve got to get that excess stock out the door,” Mr Nicholson said.
“Car dealers are going to be prepared to make a deal to get rid of all these unwanted vehicles that are clogging up their car yards.”
Mr Nicholson said the end of the year was also traditionally a good time to buy a new car.
“During December and January dealers are trying to sell end-of-plate cars (those manufactured in 2019) before they get new stock,” he said.
“In most cases you’re buying the same car, the only difference is the date stamped on the compliance plate.
“Industry insiders suggest some manufacturers could even have some even older stock they’re willing to sell for a song.”
Earlier this year RACV released its Driving Your Dollar survey, which calculates the estimated cost to own and operate 141 of the top-selling models on the Victorian market. It helps car buyers:
- Discover how much it costs to run a car per week
- Determine which car is the most affordable option for their lifestyle
- Manage budgets using indicative figures.
For more information, visit Car running costs 2019.
For media enquiries, interviews or images, contact RACV’s Media & Communications team on 03 9790 2572 or 0417 041 398.