New vehicle market slightly down but not out
November 4th 2008
New vehicle market slightly down, but definitely not out
October’s new vehicle market reflected the effects of global financial influences, but not to anything like the extent that certain overseas markets have suffered.
New passenger car sales, at 7477 for the month, were 12% up on September, but 5% down on October 2007. New commercial vehicle sales reached 1863, marginally up on September’s level, but 13% below the figure for the same month last year. Both passenger and commercial vehicle sales fell back to approximately October 2005 levels, and the total new vehicle market is now running year to date at 2.6% below the first ten months of 2007.
“It’s nevertheless a pretty good performance considering the economic headwinds,” said Perry Kerr, CEO of the Motor Industry Association. “What’s even more significant is that the industry has finally put the used import era behind it. In October, not only did the number of new passenger cars sold beat the equivalent used import figure by 13%, but it was the first month since July 1994 that new car registrations had exceeded those of used imports.”
Toyota is in an unassailable position for full year market share with a 30% plus performance in October, and Corolla is streaking away from Commodore, Swift and Falcon as the year to date top-selling car model.
Sheet 1: Top fifteen distributors, full year 2007, month of October and YTD 2008, total vehicles, new cars, new commercials.
Sheet 2: Top fifteen sellers by model, full year 2007, month of October and YTD 2008, top fifteen rental cars October 2008