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Australia new vehicle sales jump in June

Wednesday, July 15, 2015 - 09:57
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Australia's monthly new vehicle sales jumped to their second-highest ever in June, likely helped by record low interest rates and a government tax break on small business investment.

[SYDNEY] Australia's monthly new vehicle sales jumped to their second-highest ever in June, likely helped by record low interest rates and a government tax break on small business investment.

New vehicle sales rose a seasonally adjusted 3.8 per cent in June from May, when they had dipped 0.8 per cent, data from the Australian Bureau of Statistics showed on Wednesday.

Total sales of 97,620 new vehicles were up 4.0 per cent on June last year, and were the highest since September 2012.

The increase was spread across all classes, with sales of sports utilities rising 3.3 per cent, passenger vehicles 5.4 per cent and other vehicles 1.1 per cent.

The strength came despite weakness in consumer confidence, and suggested household spending added to economic growth in the second quarter.

REUTERS