Official VFACTS data released by the Federal Chamber of Automotive Industries (FCAI) shows that 75,439 passenger cars, SUVs and commercial vehicles were sold in May 2009 – down 14.9% compared to the same month in 2008.
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However, the decline is less than April’s and the trade association put a positive interpretation on the figures.
“The May figures provide a tangible indication that new vehicle sales have stabilised and indeed there are even grounds to suggest we may see signs of improvement in coming months,” FCAI Chief Executive Andrew McKellar said.
Sales to business buyers in May were only down 7.2% on a year ago.
“There is clear evidence that the Federal Government’s business tax break is providing the market with a renewed sense of optimism and confidence,” Mr McKellar said.
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By GlobalData“The business tax break is proving extremely effective, providing a much needed boost to vehicle sales and stimulating economic activity,” he said.
“Vehicle brands have been promoting this incentive heavily in recent few months and since the legislation has been passed there has been a perceptible increase in business sales,” he said.
Year-to-date 352,374 new vehicles have been sold, down 19.2% compared to the same period last year.
Toyota continued in the top sales position in May with 15,481 vehicle sales, ahead of Holden with 9,177 and Ford with 8,440 units.
