Australian new car sales fall again

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By Leith van Onselen

The Australian Bureau of Statistics (ABS) has just released new motor vehicle sales for the month of October, which registered a 0.7% seasonally adjusted fall over the month and a 3.1% decrease over the year (see next table).

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Sales fell in five states and territories and rose in three.

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As shown in the next chart, overall new car sales peaked in the first quarter and have since been trending downwards. Sales of sports Utility Vehicles (4WDs) remain strong, however:

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The trend is particularly weak in Queensland and Western Australia:

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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.