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Australia new vehicle sales drop 2.7% in Feb: ABS

[SYDNEY] Australian sales of new vehicles fell sharply in February to end two months of gains, a worrying sign for the health of consumer spending in the first quarter of the year.

Wednesday's data from the Australian Bureau of Statistics showed sales dropped 2.7 per cent in February from January, when they increased by 0.5 per cent. Sales of 94,786 vehicles were down 4.1 per cent on February last year.

Sales of sports utilities slipped 3.1 per cent in the month, after a jump of 7 per cent in January, while passenger vehicles fell 4.3 per cent. Sales of other vehicles including trucks rose 1.5 per cent, compared to January.

REUTERS

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