SYDNEY: Australia’s new vehicle sales rose for the third straight month last month, despite higher petrol prices and an interest rate hike, figures released last Friday showed.
Consumers’ enthusiasm for a new set of wheels continued unabated, with new motor vehicle sales up 1.1% in the month, seasonally adjusted, to 89,906 units, the Australian Bureau of Statistics (ABS) said.
This continued growth was driven by passenger and “other” vehicles such as vans, trucks and utes.
Sales in passenger vehicles rose 1.4% to 52,717 units last month, while the other vehicles category jumped 3.9% to a record 19,576.
By contrast, sales of sports utility vehicles (or SUVs) fell for the first time in six months, posting a 2.6% fall last month, in seasonally adjusted terms, after five straight rises.
Petrol prices might have jumped to more than A$1.30 (K3.30) a litre last month, from A$1.23 (K3.15) litre in July, according to Westpac, but consumers have been helped by a strong Australian dollar, which has made imported vehicles more affordable. – AAP