Australian New Motor Vehicle sales for February 2010
Posted on 23 March 2010
New Motor Vehicle sales bounced back in February.
While they remain well off their highs, new car sales are proving reassuringly resilient suggesting that the consumer is feeling pretty comfortable with the economic outlook. In the context of the longer term picture, sales growth sits above the long term average growth rate.
One could argue that this is partly due to the rolling off of the lows in sales that occurred during the height of the crisis (January 2009 was a particularly bad month). Equally the government hand-outs from mid 2009 may artificially inflate the current 12 month average. Either way, the question is whether we have reached a sustainable level of monthly sales at around ~80,000 per month?
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