Aussies hit the brakes on car sales in July

Posted: 16 August 2016 2:35 pm

Car sale

But Victorians have been on a buying-spree since March.

Australian car sales remained flat in July 2016.

The Australian Bureau of Statistics (ABS) reports there were modest gains (0.4%) in sales of passenger vehicles nationwide. However, sales for other vehicles decreased by the same amount (0.4%).

Despite sports utility vehicles (SUVs) making up more than a third (35.4%) of total market sales in 2015, there were no movements in July.

Residents of Victoria were the most active buyers, up 0.5% month-on-month, continuing the trend of positive sales growth since March 2016. Buyers in Western Australia broke their six-month long negative trajectory.

Northern Territory (-0.54%), South Australia (-0.37%) and NSW (-0.26%) all recorded month-on-month reductions in overall vehicle sales.

Looking more broadly, annual vehicle sales in July were up 1.53%, compared to the previous year.

The 2016 Motor Vehicle Census, released in July, revealed Aussies still love diesel-powered vehicles, with the number of registrations soaring in 2015, making it the fastest growing fuel type.

If you're struggling to afford a new car, discover different borrowing options for used vehicles and compare low-interest car loans to find a better deal.

Picture: Shutterstock

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