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New car sales race to an all-time high

Posted on: July 30, 2017 by Tim McClare

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Can’t wait to buy a new car? You’re not alone. With sales figures hitting an all-time high in June, it seems there’s nothing hotter than a brand-new set of wheels. Here are the facts and figures you need to know.

June monthly records smashed

The month of June saw Australians buy more new cars than ever before. 134,171 in fact. That’s a 4.4% increase on the previous best result of 128,569 in June last year. Year to date sales have rocketed to 599,552, racing past 2016’s high-water mark.

What are we buying?

SUVs and light commercial vehicles are by far and away the most popular buy, with sales up 11.7% and 12.2% respectively over June last year. According to the Federal Chamber of Automotive Industries, the demand’s primarily driven by the business sector, which has seen passenger car sales increase by 5.7% and SUVs and light commercials by 16.6%. Interestingly, non-business sales of passenger vehicles are down by 5.9% compared with the same time last year.

Which brands have come out on top?

With a market share of 18.3%, Toyota remains the industry leader. They’re a whopping 9% above their nearest competitor Mazda, who holds a 9.3% share. Close behind is Hyundai with 9.1%, and Holden and Mitsubishi are bringing up the rear with 6.9%. The Toyota Hilux remains Australia’s most popular vehicle, followed by the Ford Ranger, Toyota Corolla, Hyundai Tucson (a shock result according to industry pundits) and the Mazda3.

Why are sales so high?

It’s thought a highly competitive market, low interest rates and the Government’s instant asset-write off have all contributed to the boom. However, not all brands have benefited, with Chrysler, Citroen, Fiat Professional, Land Rover and Renault all down on last year’s sales.

In the market for a new car?

Then get in touch. Our financial consultants can take the hassle out of finding and buying your new car, making the entire process quick, easy and stress free. Visit us online or give us a call to get things rolling.

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