Pete Wargent blogspot

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

'Huge fan of your work. Very impressive!' - Scott Pape, The Barefoot Investor, Australia's #1 bestseller.

'Must-read, must-follow, one of the finest analysts in Australia' - Stephen Koukoulas, ex-Senior Economics Adviser to Prime Minister Gillard.

'One of Australia's brightest financial minds, must-follow for accurate & in-depth analysis' - David Scutt, Business Insider.

'I've been investing 40 years yet still learn new concepts from Pete; one of the finest young commentators' - Michael Yardney, Amazon #1 bestseller.

'The most knowledgeable person on Aussie real estate - loads of good data & charts...most comprehensive analyst I follow in Oz' - Jonathan Tepper, Variant Perception, 2 x NYT bestseller.

Wednesday, 15 February 2017

New car sales fade (but not in Victoria)

New motor sales fading

After a strong run, new motor vehicle sales appear to be softening at the national level. 

The seasonally adjusted result of 97,636 units sold in January was some way below the record high set in March 2016.  


Annualised sales of 1.18 million are still tracking at just about the highest level on record, give or take a few Acadias. 

Indeed, while on the subject of sports utilities, the SUV accounted for a record high 37.6 per cent of new units sold over the year to January 2017. 




States diverge

At the state level, New South Wales and Victoria are still breaking records, with Victoria in particular seeing its seasonally adjusted sales for January comfortably eclipsing all previous results, reflecting record high population growth in Melbourne.

On the other hand new vehicle sales in the resources exporting states are fading, with the trend in decline in South Australia, Western Australia, Queensland, and the Northern Territory, in turn sending the national result marginally negative. 


The automotive production figures aren't yet in for the month of January, but with domestic production lines being halted we can rest assured that the 2017 numbers will be diabolical. 


---

Car, Automotive, Cars, Trade, Dealer