Australian New Car Sales Fell A Grim 3.5% Last Month

Getty/Bill Pugliano

The Australian Bureau of Statistics has just released the January new vehicle sales data which continued the recent run of weaker numbers, with a big drop relative to recent prints in this series – total sales fell 3.5% seasonally adjusted to 93,232 units.

The ABS noted that when it came to the break up of vehicles sold that “When comparing seasonally adjusted estimates for January 2014 with December 2013, sales of Passenger, Sports utility and Other vehicles decreased by 2.1%, 4.6% and 5.1% respectively.”

Looking at the total sales it is worth noting that January seasonal factors kick sales up by around 11,000 so there were actually only 82,285 vehicles sold.

Equally the total vehicles sold (actual) in the economy on a 12 month rolling basis continues to drift off from the recent peak.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.