Monday, September 17, 2012
New Car Sales Hit Record High - Australia Car News
Sales of new motor vehicles jumped by the most in five months in August to reach their highest on record, a sign consumers have the confidence to splash out on big ticket items.
Government figures out this morning show new vehicle sales rose by a seasonally adjusted 3.6 per cent in August to 93,379, following a revised 1.1 per cent decline in July. Sales were up 6.4 per cent compared with August last year.
Sales of sports utility vehicles extended their meteoric run with an increase of 4.3 per cent to a fresh all-time high of 26,452. Sales of passenger vehicles rose 4.7 per cent, while sales of other vehicles, including trucks, edged up 0.4 per cent after a very strong result in July.
The robust vehicle numbers contrast with softness seen in retail sales for July and suggest consumer spending is not as weak as some fear.
Industry data out earlier in the month showed Toyota retained first place in the sales ladder with 19.2 per cent of the market in August.
Holden held second spot with 12.0 per cent. Hyundai and Ford tied with 8.3 per cent, while Mazda took 8.2 per cent.
Posted by Joseph Gale at 4:33 AM