VFACTS May 2019
By Scott Collie
05 May 2019
The market continued its slide, recording its 14th straight month of declining sales.
Car dealers are reporting a sales recovery since last month's Federal Election, but Australian new car registrations continued to decline in May, the 14th consecutive month of sales slowdown.
VFACTS data for May 2019 recorded 92,561 new vehicle registrations, down 8.1% from the 100,754 achieved in May 2018. That perfectly matches the state of the market in 2019: year-to-date sales are down 8.1% compared to the same point in 2018.
Tasmania is the only state seeing growth in 2019, up 5.5% in May and 2.2% year-to-date, while the Northern Territory has seen the biggest slide. It's down 10.7% year-to-date, and saw a 20.2% dip in sales during May.
Passenger cars continued to struggle, down 11.9% last month with 28,890 sales and a 31.2% share of the market, while SUV sales totalling 40,937 represent a 4.7% drop and 44.2% market share.
A total of 19,178 light commercial vehicles were registered, a dip of 9.0% on May 2018.
Tony Weber, Federal Chamber of Automotive Industries (FCAI) chief executive, attributed the market's continual decline to factors like "an economic downturn, drought, political events, the tightening of financial lending and lack of confidence in the market".
He's optimistic confidence from the now-completed Federal Election will help drive consumers back to the dealership, suggesting the market will "improve over the next few months".
Much more analysis at the LINK
Originally Posted by mikmak