Firstmac reports car market is "recovering strongly" (Australian Broker)

12 June 2020

New data from a non-bank lender has indicated the car market is “recovering strongly” after plummeting in April, with borrowers ready to begin buying cars again as the COVID-19 crisis has been largely contained within Australia.

In the month of May, Firstmac recorded a record number of car loan applications, with activity strengthening towards the second half of the month and continuing into June.

After taking just 721 car loan applications in March and 657 in April, Firstmac took 1,051 in May, setting a new monthly record.

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