The Federal Chamber of Automotive Industries (FCAI) has released figures today that (as suspected) see the Australian motor vehicle market marching bravely towards an annual record in excess of one million sales. The announcement comes on the back of another strong month of sales in November.
A record total of 92,081 cars, trucks and buses were sold in November- an increase of 8784 or 10.5 per cent on November 2006 and total sales are now 963,732 for the year-to-date - up 78,129 or 8.8 per cent on the same period last year.
"The market appears to have been unfazed by the November interest rate rise. In addition, the timing of the Federal election also had little or no impact on buying intentions. In historical terms motor vehicles are very affordable and intense price competition between brands is only making them more so. The continued strength of the Australian dollar is under-pinning the competitiveness of many models and consumers are responding to the improved value for money that is on offer," said the FCAI's chief executive Andrew McKellar (pictured).
Mr McKellar went on to say that it is now clear that the forecast of a record one-million sales in 2007 will be comfortably exceeded. Market growth has been widespread, with almost every segment and category contributing.
The main contributors to additional sales volume in November were the Small car segment, which was up 1605 or 9.0 per cent, Light cars (up 1555 or 15.4 per cent), the SUV Medium segment (up 1401 or 26.3 per cent), Pick-up/Cab Chassis 4x2 (up 1654 or 30.5 per cent) and Pick-up/Cab Chassis 4x4 (up 1245 or 21.6 per cent).
Despite historically high fuel prices, new model activity has helped grow the total SUV market by 15.6 per cent during the year with consumers putting space and convenience ahead of running costs.
Toyota was the top-selling brand in November with 20,956 sales or 22.8 per cent of the market, ahead of Holden with 12,498 and Ford with 9,219.
Year-to-date Toyota now leads Holden by 79,818 sales.