Following on from yesterday's post noting a bounce in new car sales in June, I thought it would be interesting to chart the long term new car sales data by state on a rolling 3 monthly basis to see what we can learn from that.
New car sales over the long run might be an interesting combined proxy for consumer confidence and state population growth.
The recovery car sales in June is evident in the data across most states (click chart):
The chart suggests a nice rebound on confidence, with Victoria and New South Wales the standout performers over the period since the global financial crisis (GFC).
Other points of note include the severe initial impact of the GFC and the subsequent rebound upon stimulus of consumer activity.
Perhaps this chart is of more relevance to the larger states than it is to, say, the ACT or Northern Territory.
After all, I don't know of too many people who live in Canberra or Darwin sans wheels, but plenty of people, including me, choose to live in the larger cities while only hiring, renting or car-sharing a vehicle when required.