CommSec maintains a luxury vehicle sales index. Sales at the top end of the market are generally a good guide to broader markets – not just cars but other assets like houses. Luxury vehicles now represent a record 12.48 per cent of annual passenger car and SUV sales…
To get a gauge on the luxury vehicle market, CommSec tracks the sales of 17 luxury marques: Aston Martin, Audi, BMW, Bentley, Ferrari, Hummer, Jaguar, Lamborghini, Lexus, Lotus, McLaren, Maserati, Maybach, Mercedes-Benz, Morgan, Porsche and Rolls Royce…
When home prices were rising strongly from 2013-2017, sales of new vehicles were similarly rising. Australian home prices started easing in November 2017. Annual new vehicle sales peaked in March 2018 and they had been falling ever since, up to the latest gain in November.
As noted above, after falling for two straight years, the CommSec Luxury vehicle index started lifting in July 2019 and then consistently rose eight straight months through to February 2020. Home prices followed the same pattern but its run ended a little later in April 2020. Home prices started lifting again in October 2020 and have now risen for two straight months…
Home prices are rising at the same time as luxury vehicle sales, broader new vehicle sales and even share prices. It will be important to watch the linkages and trends in each of these markets over coming months…
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
