Australia new vehicle sales on track for record year

[SYDNEY] Sales of new vehicles in Australia dipped in October from the same month last year but only because there was one less selling day and the market remained on track for a record-setting year.

The Australian Federal Chamber of Automotive Industries'VFACTS report on Friday showed 93,357 new vehicles were sold in October, down 1 per cent on the same month last year. Adjusted for selling days, sales were higher in the month.

The running total for 2016 rose to 980,433, 2.4 per cent ahead of the same period last year. Total sales for all of 2015 were a record 1.16 million units.

Sales of light commercial vehicles rose 0.4 per cent in October, consolidating after a run of very strong months that augured well for business investment.

The Toyota Hilux became the first pickup truck to top the country's best seller list in a month.

Sales of sports utility vehicles (SUVs) were ahead by a brisk 4.9 per cent, while passenger vehicles dropped 7.4 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 17.5 per cent in October. Hyundai Motor Co gained ground to take second spot with 9.5 per cent, while Mazda Motor Corp held 8.5 per cent.

The Holden unit of General Motors took 8.1 per cent, with Ford following at 7.0 per cent.

REUTERS