The October new car market provides evidence of a broadening economic recovery with sales up on a year ago for the first time in 16 months.
Official VFACTS data released by the Federal Chamber of Automotive Industries (FCAI) shows that 80,813 passenger cars, SUVs and commercial vehicles were sold in October 2009 – an increase of 2.2 per cent compared to the same month last year.
“This was a good solid monthly result with the welcome return of private, business and rental buyers in larger numbers,” FCAI Chief Executive Andrew McKellar said.
“This is the first month since June 2008 that sales have increased when compared to the year before,” he said.
“The industry is looking to round out the year on a positive note and we expect a further surge in sales as businesses move to take advantage of the successful tax break prior to the end of the year,” Mr McKellar said.
“While the latest figures are encouraging we would urge the Reserve Bank to proceed with caution in contemplating further interest rate rises until the foundations of a full recovery are clearly established,” He said.
The SUV segment led the market in October recording a 9.5 per cent increase, followed by light commercials (up 3.4 per cent) and passenger cars (up 1.3 per cent). Heavy commercial vehicles recorded a decline of 24.9 per cent.
Year-to-date 762,787 new vehicles have been sold, down 11.7 per cent compared to the same period last year.
Toyota remains in the top sales position for October with 17,888 vehicle sales, ahead of Holden with 10,737 and Ford with 8,240.
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