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New motor vehicle sales up 19.9% in year ended in Nov


4/12/2009 -

New motor vehicle sales rose 19.9 per cent in the year ended November, as businesses took advantage of government tax incentives to buy light commercial and sports utility vehicles (SUV).

Official data released by the Federal Chamber of Automotive Industries (FCAI) shows 85,833 passenger cars, SUVs and commercial vehicles were sold in November, up from 71,617 in the same month last year.

"This is an extraordinary result that provides further evidence that the market and the broader Australian economy are showing signs of recovery," FCAI Chief Executive Andrew McKellar said group's VFACTS survey released on Thursday.

"The exceptional November figures could not have been achieved without the federal government's small business tax break."

Business sales increased by 35.4 per cent from a year ago.

However, the motor industry was cautious about the outlook due to recent rises in official interest rates.

"There is the risk that if the banks move too early and too rapidly to increase rates the positive impact of this stimulus measure will be diminished," McKellar said.

Over the year, SUVs led the market with sales rising 44 per cent, followed by light commercials with a rise of 38.9 per cent and passenger cars with a 9.4 per cent increase.

Toyota remained in the top sales position in November with 19,603 vehicle sales, ahead of Holden with 11,391 and Ford with 8,868.

Source: AAP NewsWire

 



Comment on this article (1)

 1
| 4/12/2009 8:27:33 AM
Great news for care salesmen But if the majority are all imported, means absolutely nothing for Australian manufacturing, and large scale employers!

 
 
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