Australian new car sales set record in 2013

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By Leith van Onselen

The Australian Bureau of Statistics (ABS) has just released new motor vehicle sales for the month of December 2013, which registered a 1.7% seasonally adjusted rise over the month and a 0.1% increase over the year (see next table).

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Sales rose in five states and territories and fell in three.

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As shown in the next chart, overall new car sales peaked in the first quarter of 2013 before trending downwards. They have since started to recover, with sales of sports Utility Vehicles (4WDs) remaining strong throughout:

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Moreover, while the trend has clearly weakened, a record number of cars were sold in calendar year 2013, with sales up by 2.5% on 2012 led by a 9.3% rise in sports Utility Vehicles (by contrast passenger vehicle sales actually fell by 1.5% in 2013):

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Looking at the mainland states, you can see that new motor vehicle sales growth is particularly strong in New South Wales and Victoria, but weak in Queensland and Western Australia:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.