Read our Quarterly Report Q3 2020Posted 17 November 2020
During the third quarter the impacts of COVID and the consequential recession continue to have an affect on asset values in the automotive, road transport, construction, mining, agriculture, aviation and marine sectors.
- The Road Transport Sector continues to reduce in sales volume but shows some semblance of stabilisation after a reduction of only 13% on the same period last year.
- Delays have been extended on new stock with global production capacity reduced.
- With almost all Australian businesses now eligible for a full write-off of asset purchases manufacturers suppling business assets across road transport, automotive and machinery are seeing some rebounds in certain sectors.
- Agricultural equipment sales have continued to thrive during the third quarter, which is being driven by good seasonal weather conditions, low interest rates, high commodity prices and tax incentives.
- The automotive sector saw year to date sales reach a total of 811,464 vehicles sold, with an overall market decline of 21.8%.
- The 2020 Nobel Prize Winner in Economic Sciences was jointly awarded to Paul Milgrom and Robert Wilson for ‘improvements to auction theory and inventions of new auction formats’.