September sales of 78,131 passenger cars, SUVs and commercial vehicles in Australia last month was “a good month with a stronger than expected result,” according to FCAI chief executive Andrew McKellar.
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September volume was down 3.5% year year on year but there were increases in some segments such as luxury SUVs (30.9%).
“The September figure demonstrates signs of consolidation in the new vehicle market,” McKellar said. “Some areas of buyer confidence remain fragile and an interest rate rise is premature [Australia’s Reserve Bank unexpectedly raised interest rates by a quarter point on Tuesday, the first major economy to increase the cost of borrowing – ed].
“Economic stimulus has resulted in positive business sales but private buyers need the confidence to return to showrooms in larger numbers.”
Year to date, 681,974 new vehicles have been sold, down 13.1% year on year.
Toyota remained top manufacturer in with 16,007 sales ahead of GM’s Holden (9,744) and Ford (8,427).
