Confidence grows, car sales up,more car loans needed
Good news for the car industry as sales increase from the previous year.
This will have a positive flow on effect particularly for those finance brokers involved in car loans and car leasing finance.
car finance and loans are very attractive for small business owners in this low interest rate environment.
Confidence grows, car sales up By CommSec Reserve Bank Board minutes:weekly consumer confidence; car sales Consumer sentiment: the weekly ANZ/Roy Morgan consumer confidence rating rose by 0.6% last week to stand 0.6% higher than a year ago.
New vehicle sales: sales fell by 1.3% in July but were still up 3.7% on a year ago.
The annual total of new vehicle sales hit a 19-month high and is 0.6% below record highs.
Real retail trade is growing at the fastest annual rate in three years and new vehicle sales are not far from record highs.
New Vehicle Sales According to the Australian Bureau of Statistics new motor vehicle sales fell by 1.3% in July but were up 3.7% on a year ago.
Passenger car sales fell by 4.2% in July; sales of ‘other’ vehicles fell by 0.5%;and sales of sports utility vehicles rose by 2.1%. New vehicle sales by state:New Sales Wales; Victoria; Queensland; South Australia; Western Australia;Tasmania; Northern Territory; ACT.
The ABS provides monthly estimates of new vehicle sales in seasonally adjusted and trend terms after receiving the actual sales data from the car industry.
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