Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Wednesday, 16 December 2015

Motor sales at record levels

New motor sales rise in November

November Sales of New Motor Vehicles rose by +1.0 per cent to a seasonally adjusted 97,696, taking the trend result to a fresh all-time high of 97,973.

Sports Utility (SUV) sales continue to carve up the market at the expense of traditional passenger vehicles, accounting for some 36.5 per cent of sales in the month.

Rolling annual new motor sales are also at an all-time high of more than 1.15 million.

At the state level rolling annual sales have blazed to all-time highs in New South Wales (378,792) and Victoria (314,377), while Queensland was the strongest performer of all in November, with new motor vehicles sales up by +13.8 per cent from one year ago. 

On the other hand, rolling annual sales total are in decline in Western Australia (106,480) and the Australian Capital Territory (10,656).

Sydneysiders must be wondering what all the fuss is about with regards to the domestic economy, with unemployment falling, pulsating jobs growth, retail sales humming along, and now record new car sales.

But, of course, it's the resources regions which are set to be hit with the big job losses and falling demand.