The Australian Bureau of Statistics (ABS) has released new motor vehicle sales for the month of June, which registered a seasonally adjusted -0.6% fall over the month, led by Queensland, Western Australia and the Northern territory:
Despite the monthly dip, the below charts show that the trend in new car sales is well and truely up, driven by strong growth in sales of Special Utility Vehicles or SUVs (4WDs):
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Moreover, the trend is up in all mainland states, except South Australia:
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Twitter: Leith van Onselen. Leith is the Chief Economist of Macro Investor, Australia’s independent investment newsletter covering trades, stocks, property and yield. Click for a free 21 day trial.
