New vehicle sales in Australia dropped by 21.8pc to 68,985 units, compared to 88,181 units in the prior year month as the customers remain reluctant to make new purchases amid second wave of COVID-19 virus, reported The Federal Chamber of Automotive Industries (FCAI) on Oct 5. Vehicle sales were, however, better compared to the prior month.
The association expects sales to increase as purchase restrictions are eased along with health restrictions across Australia. Furthermore, the Federal Government has eased lending conditions for private buyers and small businesses which is likely to act as a stimulus for the Australian industry, said Tony Weber, Chief Executive of the FCAI.
On region basis, Victoria accounted for the largest drop in sales by 57.7pc to 10,447 units as against the prior year period. Sales in New South Wales, South Australia, Queensland and Tasmania declined by 6pc, 22.1pc, 7.9pc and 34.2pc, respectively. On the other hand, sales in Australian Capital Territory, Northern Territory and Western Australia grew by 3.4pc, 10.6pc and 1.5pc, respectively.
|Class of Vehicle||Sep 2020||Change YoY|
|Light Commercial Vehicle||15,772||22.9%|
|Heavy Commercial Vehicle||2,846||10.2%|
Toyota was the top selling brand with 12,936 units, followed by Mazda with 7,000 units, Hyundai with 5,273 units, Kia with 5,092 units and Ford with 4,816 units.