Australia new vehicle sales dip in September, commercial still strong

Australian new vehicle sales took a dip in September after a run of record months, though continued strength in the commercial sector augured well for business spending in the economy.

The Australian Federal Chamber of Automotive Industries’ VFACTS report out on Wednesday showed 100,200 new vehicles were sold in September, down 2.4 percent on the same month last year. Both months had the same number of selling days.

Sales for the year to date were still running 0.2 percent ahead of the same period in 2016.

Sales of passenger cars extended their long decline with a fall of 9.3 percent in September, and even the red-hot sports utilities sector took a breather with a dip of 1.3 percent.

Yet demand for commercial vehicles showed no signs of waning with the light sector up 8.1 percent and heavy vehicles jumping 15.4 percent on September last year.

Toyota Motor Corp retained first place on the sales ladder with a reduced share of 17.3 percent of the market, while Mazda Motor Corp made a strong showing by taking an unusually high 10.3 percent.

Hyundai Motor held third spot with 8.1 percent, followed by Mitsubishi at 7.1 percent. The Holden unit of General Motors trailed with 6.9 percent, ahead of Ford at 6.8 percent.