The October new car market in Australia was evidence of a broadening economic recovery with sales up year on year for the first time in 16 months, the local trade group said.
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Official VFACTS data from the Federal Chamber of Automotive Industries (FCAI) shows that 80,813 passenger cars, SUVs and commercial vehicles were sold in October 2009 – an increase of 2.2% compared to the same month last year.
“This was a good solid monthly result with the welcome return of private, business and rental buyers in larger numbers,” FCAI chief executive Andrew McKellar said. “This is the first month since June 2008 that sales have increased when compared to the year before,” he said.
“The industry is looking to round out the year on a positive note and we expect a further surge in sales as businesses move to take advantage of the successful tax break prior to the end of the year,” McKellar said.
“While the latest figures are encouraging we would urge the Reserve Bank to proceed with caution in contemplating further interest rate rises until the foundations of a full recovery are clearly established,” he added.
The SUV segment led the market in October with a 9.5% increase, followed by light commercials (up 3.4%) and passenger cars (up 1.3%). Heavy commercial vehicles recorded a decline of 24.9%.
Year-to-date 762,787 new vehicles have been sold, down 11.7% compared to the same period last year.
Toyota remained top in October with 17,888 vehicle sales, ahead of General Motors’ Holden (10,737) and Ford (8,240).
