New car sales keep falling

By Leith van Onselen

The Australian Bureau of Statistics (ABS) has just released new motor vehicle sales for the month of March 2014, which registered a 0.3% seasonally adjusted fall over the month and a 2.8% decrease over the year (see next table). It was the third consecutive monthly decline in sales.

Sales in March fell in six states and territories and rose in two.

As shown in the below, overall new car sales peaked in the first quarter of 2013 and have since drifted downwards, with even sales of the once booming Sports Utility Vehicles (4WDs) slowing:

Looking at the mainland states, you can see that new motor vehicle sales are being pulled-down by Victoria, Queensland and Western Australia, but remain fairly strong in New South Wales:

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