Pete Wargent blogspot

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

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Thursday, 17 November 2016

Record new motor sales in NSW & VIC (production crashes)

Sydney & Melbourne lead car sales

Trend Sales of New Motor Vehicles just about eked out a new high of 98,997 in October, with September having been the biggest ever month for new vehicles sold. 

Annual sales rose to a record 1.178 million.

Sports utilities continue to mop up a greater and greater share of the pie at 37.4 per cent over the year.

Record high new motor vehicle sales have been driven by a boom in the largest two cities, with Victoria and especially New South Wales breaking record sales volumes. 

Sadly, going forward most vehicles will be imports. 

In October production volumes began to drop off very sharply as production in Australia is wound up, declining to just 11,766, some 45 per cent lower than just three years ago in October 2013. 

Very good results (apart from the factory closures, obviously).