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High property prices spurring car purchases as home owners drawn down on equity

Pelican Press

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High property prices spurring car purchases as home owners drawn down on equity

A record half-year from its used car business and support from cashed-up home-owners has helped Eagers Automotive offset lower margins amid Australia’s “remarkably steady” appetite for new wheels.

Announcing record revenue but a lower first-half profit, Australia’s biggest auto retailer says demand for cars is being partially driven by strong property prices that are encouraging more people to draw down on their equity to upgrade their car.



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#High #property #prices #spurring #car #purchases #home #owners #drawn #equity

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