Toyota Australia says demand for new cars and trucks appears to be stabilising with signs of an improved sales outlook over the next few months.
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The company’s senior executive director sales and marketing David Buttner said consumer confidence would be helped by falling interest rates, lower fuel prices and the federal government’s stimulus payments.
“Business demand is also likely to be underpinned by the government’s 30% investment allowance for vehicles ordered by 30 Jun,” Mr Buttner said.
“Toyota remains of the view that total industry sales will reach 850,000 this year, with second-half sales being stronger than the first six months.”
Buttner spoke after official VFACTS data for March showed Toyota continued as the outright market leader with 16,608 sales – more than 7,400 ahead of its nearest competitor.
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By GlobalDataIts HiLux and Corolla were the second and third best-selling vehicles for the month.
Buttner said Toyota and its dealers had acted quickly to reduce vehicle stock by almost one-third from the levels at the end of October.
“Toyota and our dealers are well placed as we head into the second quarter, having adjusted our plans in line with the market realities.
“While new vehicle sales have certainly come back from the record levels being achieved in the first half of last year, consumers are responding to the value being offered across the board.
“Fortunately, our local industry is not faced with the fall-off in demand being experienced in other countries.
“As a result, we are very likely to see demand gain pace here ahead of the rest of the world,” he said.
