News AU reports New-Car Sales Hit the Brakes for the Sixth Month in September.

Here's the punchline: Dealers report the downturn is sharper than what the reported sales figures show.

> Official figures show new-car sales hit the brakes for the sixth month in a row in September.

> The slowdown means dealers are overstocked as they head into the quietest months on the calendar and trying to clear end-of-year models.

RECOMMENDED ARTICLES

> September’s downturn of 5.5 per cent over the same month last year — to 94,711 reported sales — doesn’t tell the full story. Dealers claim the figures are inflated and the real position is much worse.

> One major metropolitan dealer says “there was a mad scramble” in the last days of the month to report cars as sold. Industry insiders say anywhere from 10 to 20 per cent of vehicles in a given month are “cyber cars”, a term given to vehicles counted as sold on a computer but not in the real world.

Congratulations to Australia

It appears they can lie at least as good down under as we do in the US.

Mike "Mish" Shedlock

Australia's Housing Bubble Finally Popped?

Australia's mining towns are getting crushed. Not even Sydney is immune.

Australia's Housing Bust Impacts Retail Sales, Recession Coming Up

Australia's housing bust now impacting retail sales. Except for food, retail spending has been negative for 3 months.

Housing Wipe-Out: No Bids or Even Bidders at Numerous Australia Housing Auctions

The numbers of potential bidders in recent housing auction in Australia dropped to less than one. Most did not bid.

Supply of Homes on Australia Market Soars Rapidly, Major Crash Coming

Australia's biggest housing markets are in trouble. Supply overwhelms buyers in most major markets. Price will follow.

Australia's House of Cards is Collapsing: Recession Coming Up

Australia's housing collapse is now in full swing. A recession will follow shortly.

Auto Sales Puke Again: Year-Over-Year Totals: GM -6%, Ford -7.2%, Toyota -4.4%, Fiat-Chrysler -7.0%

Auto sales are down for the fourth consecutive month. Final numbers are not yet in, but the preliminary year-over-year totals are miserable.

Wholesale Inventories Crash, Led by Autos

Wholesale inventories plunged 5% in the Census Bureau Wholesale Trade Report for February, released today.

Humans Cause Waymo Crash

A human driver swerved to avoid another car. The result was a crash with a Waymo vehicle.

National Crane Index: Still Raining Cranes in Australia Despite Housing Bust

Australia's "crane index" hit a new record high. Expect a major home builder bust along with an accompanying recession.