Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.

Friday, 15 July 2016

New motor sales at record high (closures)

New sales up in June

The ABS Sales of New Motor Vehicles figures for June 2016 show sales continuing to tracking at record high levels, with another 99,162 units sold in the month. 



In rolling annual terms total sales hit their highest ever level at just over 1.17 million.



An ever greater of new motor sales is captured by Sports Utility Vehicles (SUVs) at 37 per cent.



New South Wales continues to break records, with rolling annual sales up by more than 8 per cent over the past year to 393,201, more than offsetting the weakness in Western Australia. 



Production volumes are falling again, and will continue to fall with the closure of the Altona plant (Victoria) in 2017, while production is set to be cut further at Holden's Elizabeth plant in South Australia following the end of Cruze production (which also results in hundreds more job losses). 



Holden is also set to close its Port Melbourne plant forthwith, before moving to imports only.