So much for worrying about the price of petrol increasing in the future because Australians are buying four-wheel-drive vehicles at pre-crisis levels, leading to record number of vehicles sold in the month of March – industry figures show.
Information released by the Federal Chamber of Automotive Industries shows 94,744 passenger cars, SUVs and commercial vehicles were sold in March – up 19,094 units or 25.2 per cent on the corresponding month this time last year. In 2009 sales had dropped because of the GFC.
It beat by 352 vehicles the prior record for March set in 2007.
This is an outstanding result and provides further evidence that the marketplace is returning to pre-global financial crisis levels and we expect this trend to continue through the rest of 2010.
SUV sales surged in March, increasing by 44.1 per cent from a year earlier, followed by passenger cars, up 23.5 per cent, heavy commercial vehicles, up 20.2 per cent, and light commercial vehicles were up 12 per cent.
For the year to March, around 252,000 vehicles were sold, an increase of just under 39,000 vehicles, or 18.20 per cent, compared to the first three months last year.
The survey also showed sales to car rental companies in March were up by 331.5 per cent from March 2009, in line with increased tourism and business activity.
As usual, Toyota retained the top selling position in March, increasing its market share above 21.4 per cent, followed by Holden with 12.4 per cent and Ford with 8.5 per cent.
However, it was noted that business sales showed some signs of easing following the phase out of targeted tax breaks.
The facts are that there is renewed growth from private buyers in March.
Aussie Loans supports the facts that with warnings of further interest rate rises, private buyers should move to take advantage of the current low Interest rate levels.
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