Despite a new record for new car sales last year, up a marginal 0.3 per cent on 2023, the car industry believes 2025 will be a much harder market. Sales in 2024 were somewhat buoyed as car makers cleared backorders due to production constraints in 2022 and 2023. The market this year is expected to be far more subdued. The drop in demand is expected as a number of new Chinese brands enter our market, already one of the most competitive in the world. Many new Chinese brands are already heavily discounting with a large carryover of excess stock as sales of electric model’s stall. Electric car sales last year grew by just 4.7 percent, Tesla remaining the top seller with 38,347 sales, down 17 percent on 2023 despite price cuts of up to $9,500. I’m David Berthon.

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