Sales of new vehicles in Australia rose 3.3% in December compared with November, helped by tax breaks for small businesses and consumers now confident enough to splash out on expensive items.
Data from the Australian Bureau of Statistics released on Thursday showed that 89,741 vehicles were sold on a seasonally adjusted basis in December, the most since April 2008 and up from 86,888 in November. That followed a hefty 5.5% increase in sales in November. Sales were up 17.2% versus December last year, Reuters reported.
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The data confirmed strength shown in industry sales figures released by automakers group FCAI earlier this month which showed vehicle sales up 16% on December 2008, when demand was battered by unease over the global credit crisis.
The lift in sales came despite the Reserve Bank of Australia (RBA) raising interest rates early in December, for a third month in a row, the report noted. The tax break on cars ends this month and analysts said they would not be surprised to see sales slip in January.
