New vehicle market takes a breather at last

Media Release
3 June 2008

New vehicle market takes a breather at last

After a solid period of growth lasting the best part of seven years, the new vehicle industry took a breather in the month of May. Although May new car sales of 5627 were slightly up on April’s figure, the month of May was 11.3% down on last May’s 17 year record. New commercial vehicle sales, at 2002, were marginally down on both April 2008 and May 2007. Year to date May, total new vehicle sales were 3.5% up on the same period last year.

“If May’s trend continues into the coming months we may at last be seeing the new vehicle market entering a consolidation phase after a prolonged period of growth,” said Perry Kerr, CEO of the Motor Industry Association. ”This is not entirely unexpected, as the slowing economy has affected virtually every other business sector. There is however, very strong demand for small new cars in particular, and we still expect the full year to yield a similar new vehicle market to that of 2007.”

Toyota continues to lead the new vehicle market, but there is a close battle between Ford and Holden for second place. Corolla continues to edge out Commodore for the position of top selling car model.

Sheet 1: Top fifteen distributors, full year 2007, month of May 2008, total vehicles, new cars, new commercials.

Sheet 2: Top fifteen sellers by model, full year 2007, month of May 2008, top fifteen rental cars May 2008.

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