Australia new vehicle sales rebound in May: VFACTS

[SYDNEY] Australian new vehicle sales rebounded in May to reach a record high for that month, a promising omen for consumer demand after a run of soft results.

The Australian Federal Chamber of Automotive Industries' VFACTS report out on Monday showed 102,901 new vehicles were sold in May, up 6.4 per cent on the same month last year. May this year had one more selling day than in 2016.

The report noted business purchases of sport utilities climbed 14.9 per cent in May, while light commercial purchases by government rose 31.7 per cent. Sales to rental fleets also returned strongly during May.

Overall, sales of SUVs were up 9.4 per cent on May last year well ahead of the passenger vehicle gain of 1.6 per cent. Sales of light commercial vehicles jumped 9.4 per cent, while sales in the heavy vehicle market rose 13.6 per cent.

Toyota Motor Corp retained first place on the sales ladder with 19.3 per cent of the market, while Mazda Motor Corp had another strong month taking 9.6 per cent.

Hyundai Motor took third spot with 8.1 per cent, ahead of Ford on 7.4 per cent. The Holden unit of General Motors trailed with 6.7 per cent.

REUTERS