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Australia new vehicle sales edge up nearer record year in Nov

[SYDNEY] Sales of new vehicles in Australia edged higher in November from the same month last year and looked set to clinch another year of records, thanks in part to stellar demand for pick up trucks.

The Australian Federal Chamber of Automotive Industries' VFACTS report on Monday showed 98,937 new vehicles were sold in November, up 0.3 per cent on the same month last year. Adjusted for selling days, sales dipped in the month.

The running total for 2016 rose to 1.08 million, 2.2 per cent ahead of the same period last year and set to surpass the 2015 total of 1.16 million units.

Sales of light commercial vehicles rose 3.3 per cent in November, from October, extending a strong run that augured well for business investment.

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Sales of the Toyota Hilux jumped 14 per cent in November to top the country's best seller list for a second straight month. Just behind was the Ford Ranger, a rare double for the pick up sector.

Sales of sports utility vehicles (SUVs) were ahead by 4.1 per cent, while passenger vehicles dropped 4.5 per cent and have been in decline for some time.

Toyota Motor Corp retained first place on the sales ladder with an expanded market share of 18.4 per cent in November. Mazda Motor Corp raced to second spot with 9.9 per cent, pipping Hyundai Motor Co 005380.KS at 8.1 per cent.

The Holden unit of General Motors took 7.8 per cent, with Ford trailing at 6.9 per cent.

REUTERS

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