Australian new car sales fall again

Wednesday 13 November 2013

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).

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

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:

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.