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Australia new vehicle sales jump to record in May: ABS

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Australian sales of new vehicles rose by the most in 11 months in May to hit the highest on record, a promising sign for a pick up in consumer spending in the second quarter.

[SYDNEY] Australian sales of new vehicles rose by the most in 11 months in May to hit the highest on record, a promising sign for a pick up in consumer spending in the second quarter.

Monday's data from the Australian Bureau of Statistics showed national sales rose a seasonally adjusted 2.9 per cent in May, from April when they edged up 0.3 per cent. Sales of 100,476 vehicles were up 4.9 per cent on May last year, and the highest since the series began in 1994.

Sales of sports utilities rebounded by 4.1 per cent after a dip in April, while passenger vehicle sales rose a solid 3.8 per cent. Sales of other vehicles, including trucks, slipped 0.6 per cent after a couple of strong months.

REUTERS

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