New vehicle registrations are continuing to plummet, as the cost of living continues to bite
New vehicle registrations are continuing to plummet, as the cost of living continues to bite
23 July 2024
Latest figures from Motor Industry Association show registrations last month were down 60-percent on the same month last year.
It was the slowest June for new car sales in a decade.
Association Principal Technical Advisor Mark Stockdale says buying a car isn't a priority for most people.
He says people are cutting back as food and rent costs rise, so putting money towards a car isn't viable.
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