Sales of new vehicles in Australia hit a record in June as seasonal price competition boosted demand for SUVs and commercial vehicles, a sign consumers still had the confidence to splash out on big ticket items.
The Australian Federal Chamber of Automotive Industries’ VFACTS report on Tuesday showed 128,569 new vehicles were sold in June, up 2.2 percent on June last year. Both months had the same number of selling days.
Sales were up 33 percent on May. June is typically a strong month as dealers cut prices to clear stock for the end of Australia’s financial year. The running total for 2016 rose to 598,140, 3.4 percent ahead of the same period last year. Total sales for all of 2015 was a record 1.16 million units.
Sales of sports utility vehicles (SUVs) in June rose 8.9 percent on last year, sucking demand away from passenger vehicles which slipped 4.5 percent. Light commercial vehicles had another upbeat month with sales rising 5.9 percent and hinting at resilience in business investment. Toyota Motor Corp retained first place on the sales ladder with a market share of 17.2 percent in June.
Details of the VFACTS report in original terms: Jun May m/m pct Jun/15 y/y pct Sales 128,569 96,672 +33.0 125,850 +2.2 Sales by Type: Jun ’16/Jun ’15 Volumes Change Pct Change Passenger Vehicles -2,554 -4.5 Sports Utility +3,755 +8.9 Light Commercial +1,399 +5.9 Heavy Commercial +119 +3.4