New car sales continue tracking the bubble

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By Leith van Onselen

The Australian Bureau of Statistics (ABS) today released new motor vehicle sales for the month of October, which registered a 3.6% seasonally adjusted decline in the number of sales, but a 4.2% increase over the year, with strong growth in the sale of Sports Utility Vehicles (SUVs) reported.

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New car sales fell in six out of eight jurisdictions in October.

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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.