NAB Creates New Business Bank Role as Car Sales Surge
(10 May 2021 – Australia) NAB has announced Anita Hyde in the newly created role of Head of Specialised and Private, a part of the business banking commercial broker team, amid a surge in new car sales growth.
Ms Hyde has joined NAB’s business banking and commercial broker team, which enables brokers to access NAB specialists across a broad range of industries, including health, professional services and commercial real estate.
New data from the Federal Chamber of Automotive Industries (FCAI) reveals Australians purchased 92,347 new cars in the month of April, up from the 38,926 sold in April 2020. That significant year-on-year (YoY) difference is unsurprising given supply chain disruptions and shutdowns amid the COVID-19 crisis in H1 2020 however the April 2021 car sales figure is also 22 percent higher than the April 2019 mark and represents the sixth consecutive month of new car sales growth.
Three of April’s five top selling cars were utes. While the Ford Ranger ute surpassed the Hilux as Australia’s best-selling car for April, Toyota still sold 4,222 of the utes in April, making it the third-best seller of the month.
“This year is shaping up to be an exciting time of recovery and growth. In such a dynamic environment, we understand brokers are looking for predictability and reliability from their lender partner” stated NAB Executive, Equipment Finance and Commercial Broker Sales, Chris Thomas.
“Anita brings exceptional knowledge in business and private banking and the broker market. Her expertise will be invaluable in making sure that our brokers feel connected and supported when it comes to meeting the complex needs of their customer base. Most industries are now seeing strong levels of growth as the post-coronavirus pandemic recovery gains pace” Mr Thomas added.
“Every business owner deserves support from specialists with the same kind of fierce dedication and focus they have – because that’s what it takes to bring it to life. We are proud to work in partnership with our commercial brokers as it truly reflects our commitment towards funding and building on ideas across Australia’s growing business community” he said.
“Experience has shown Australian businesspeople an extremely adaptable and creative group who continually innovate. Both traditional and unique borrowing opportunities are emerging, either for acquisition of heavy machinery or digital transformation. With low interest rates and government tax incentives, it’s a good time to consider new opportunities for growth.”
“The thriving new car market is evidence of Australia’s broader economic recovery from pandemic shutdowns. People buy cars when they have economic confidence in the future, so the numbers are substantial here” said FCAI CEO, Tony Weber.
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