Car sales ease

By Leith van Onselen

The Australian Bureau of Statistics (ABS) has released new motor vehicle sales for the month of July, which registered a seasonally-adjusted -0.8% fall over the month, led by New South Wales, Queensland, the Northern Territory, and the ACT:

Despite the recent dip (sales fell last month by -1.0%), the below chart shows that the trend in new car sales is up, driven by strong growth in sales of Special Utility Vehicles or SUVs (4WDs):

Moreover, the trend is up in all mainland states, except South Australia:

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.