Australian new car sales are running at the fastest pace on record

Buda Mendes/Getty Images

Australian new car sales slid last month having hit an a record high in September with the ABS reporting a decline of 3.6% to 96,925. Despite the monthly dip, from a year earlier sales increased 4.2%.

In seasonally adjusted terms passenger vehicle sales fell 7.6% to 41,321, the second lowest monthly total since June 2000. Elsewhere sales of 4WD/SUV slipped 2.6% to 36,552 while sales of other vehicles increased 4% to 19,052.

Reflective of the persistent trend, passenger vehicle sales fell to 517,381 in the year to October, the smallest annual increase since June 2000. Over the same period 4WD sales increased to 399,867, the highest level on record. In overall terms sales increased to 1,147,460, also the highest level on record.

Over the month sales rose in South Australia and the Northern Territory but fell in all other states and territories. Compared to a year earlier sales rose in regions aside from Western Australian and the Northern Territory, reflective in part of weakness in the mining sector.

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