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February Sales of Passenger Vehicles in Australia Showed Growth
Mar 23, 2007

With Passenger Vehicles sales shooting up in February as compared to January 2007, it implies that the passenger vehicle market is booming year on year.

In the second months of the year 2007 total motor vehicles sale in Australia sharply at a rate of 1.3%. The sale of passenger vehicles increased sharply at a rate of 1.3% in the previous month (February), making a comprehensive rise of 15.6% rise within the year. This performance supports the outstanding sales recorded in January, implying that for year-to-date, the passenger vehicle market is ahead of sales in 2006 by 9% or 13,227 passenger vehicles.

“The car industry has really jumped out the blocks this year, thanks to the combined effects of new model activities and intense retail competition," asserted Peter Sturrock, FCAI’s (Federal Chamber of Automotive Industries) Chief Executive in a report in
Gminside News.

There has been a considerable increase in the total sales of both small and big vehicles.

Craig James, the chief economist of CommSec, said, “With employment low at 4.6%, wages rising and a strong Australian dollar, motor vehicle affordability has been driven to a 20-year high” informed
The Age.

Comparatively lower rates of interest and little apprehension about prices of petrol was also encouraging the automobile market, advancing sharply matching the trend. Improvements reported in car production and efficiency worldwide has made cars more reasonably priced in Australia since production has been transported to areas like Eastern Europe and South Africa.

The immediate result is the rising recognition of comparatively affordable, four-cylinder, vehicles powered by petrol-engine. Besides that, automobiles powered by alternate sources of energy are also progressively gaining popularity.

Australia’s four major auto manufacturers (Toyota, GM Holden, Ford Motor, Mazda Australia) collectively sold 18,362 vehicles in February, marginally up from18, 312 in 2006.

Holden declared Commodore as Australia’s topmost selling model with sales of 5544 units in February. Toyota’s new entrant Aurion’ also registered record 1817 sales vehicles since its October launch.

According to financial analysts at
RNCOS, 2007 will proved to be an excellent year for passenger vehicles market in Australia, as early market indications are positive.

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