Grab Cheaper Cars In Oz Now! But It Doesn’t Come With Warranty
This is happening in Australia now! The car dealers Down Under have overflowing inventories and are cutting prices to clear the excess. But there is NO warranty for these cars. How did this happen?
Australia’s car market is out of control at the moment. In order to maintain the car sales figures for 2013, many car companies had offered bonuses to dealers for bulk purchases during the end of last year. ‘Cyber cars’ or ‘called cars’ are vehicles that were purchased by the dealers and not the consumer. The short-term mitigation of low car sales disaster has led to another disaster. The dealers now have too many cars but no customers for them. As a result, the market slowed down by 3.8% in February 2014 and car dealers are now forfeiting profits to lower their inventories.
The figures below were taken from the Federal Chamber of Automotive Industry Australia (FCAI). It is supposedly the official figures on the number of cars sold ‘twice’; considering the current situation, these monthly figures are no longer valid as the sales only happened ‘once’, that is to the dealers.
To extract the actual car sales data from the registration authority of Australia would take months; therefore, most brands in the car industry have been publishing their inflated sales figures autonomously based on the cyber cars and called car sales figures.
Nevertheless, Tony Waber, Chief Executive of FCAI, said that these are only rumours. He denies that counting of unsold cars is happening. According to him, the slow market situation now is due to the nervousness in the economy and nothing to do with the inflated sales.
But dealers’ backyards are jammed with cars (pictured above). So, is this a rumour or a fact? We will keep you updated as the news develops.