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The Australian Bureau of Statistics (ABS) has just released new motor vehicle sales for the month of July, which registered a 3.5% seasonally adjusted fall over the month but a 3.0% increase over the year (see next table).
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Sales fell in all states and territories except the Northern Territory.
Car sales remain in a weakening uptrend driven almost entirely by strong growth in sales of Sports Utility Vehicles or SUVs (4WDs):
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The trend also remains up in all mainland states, although it too has clearly weakened:
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About the author
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.
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