Press Releases
Press Releases - 10th October 2008
Martec Automotive Seminar
The audience for the Martec Automotive Seminar held in Darling Harbour on October 10 was the quietest in 10 years. As the reality of the significant challenges until 2013 were meticulously outlined from industry leaders including a leading economist from St George Bank, Sales Director for Hyundai Motor Company along with representatives from Ateco Automotive (the company importing the Chinese brands), Capital Finance, Motor Traders Association and Honda MPE what the impact of all this was going to have on staff....
One Hundred and twenty Motor Industry Leaders were hanging off every word as the Economist gave her assessment (and update of bank failures - that morning) the dollar had crashed so quickly that day..... it seamed Hyundai has a complete new range of Prestige cars; Simon Abbott from Capital Finance methodically and with great insight traced the history of the credit crisis from the Clinton Administration to the failure that day of the latest in a long line of global financial institutions on the day prior and outlined that the impact on Australian Motor Dealer Finance would be significant..... Stuart Strickland from Honda MPE reported on the realistic vehicle alternative (particularly for inner city commuters) and how the market potential was enormous. However Motor Cycle dealers need to be more professional and proactive with the government....... Ric Hull from Ateco outlined why the Chinese are coming and we should all take immediate notice....
People at these times of change need to be well informed. There were more brands represented and new concepts promoted at the Martec Seminar - than at the Sydney Motor Show which was conducted next door!!
The Future
The Martec Insight Magazine quoted economic indicators have deteriorated rapidly in a short period of time. All forward indicators have deteriorated indicating that the Automotive Industry will be depressed throughout 2009 and into 2010. A recovery in Industry sales at this point in time is not expected until 2011.
Total Industry sales are forecast to be down 1.4% for full year 2008. December quarter 2008 retails are forecast at 250,468 units, down 6.4% on the 267,620 units sold in the December quarter of 2007. Full Year 2009 vehicle sales are forecast at 975 thousand units. Sales are expected to be less than that achieved in 2005.
