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Automotive Industry

Local production experienced a significant decline between 2016 and 2017, forcing some companies to restructure during this time. Before the outbreak of COVID-19, growing demand for smaller, fuel-efficient cars and SUVs supported auto wholesalers and dealers. Service providers have benefited from an increase in the number of registered vehicles on Australian roads. Overall, industry revenue is expected to decline 1.8% annually to $165.8 billion over the five years to 2022-2023. 

Wholesalers and retailers benefit from these low-cost imports. Most of the automotive industry was paralyzed during the blockade, including service and repair. After the end of the blockade, the latent demand for automobile transport increased again in recent years, and the real income of households increased, which stimulated further growth. The industry benchmark includes an expected growth of 6.3% in 2022-23. The automotive industry is expected to return to growth in the coming years as companies restructure and the business landscape improves. Imports are expected to increase, which will benefit wholesalers and retailers. Industry revenue is expected to grow 1.9% annually to $182.2 billion over the five years to 2027-2028.

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