Our take on the latest Car registrations (Tue 6 Aug 2019)
Car registrations down 5.4%pa in July 2019
New car registrations down 1.4%pa in July 2019
Used car registrations down 7.6%pa in July 2019
The key numbers...
- Car registrations remain on a downward track, reflecting broader economic conditions.
- So far in 2019, the drop in new car registrations has been driven by small new cars, while the drop in used car registrations has been driven by large used cars.
- Weak consumer and business confidence, slowing population growth, softer employment growth, and higher fuel prices continue to make consumers and business reluctant to commit to large purchases.
Car registrations
Annual running totals
...and our reaction
- New small car registrations fell 9.5%pa in July 2019. Used large car registrations fell 13%pa.
- New large car registrations saw a slight increase in July 2019 compared with a year earlier, but this improvement followed two months of steep declines.
- Annual registration totals of used large cars are 23% down from their peak in early 2018. Annual registration totals of both large and small new cars and used small cars are also down from their recent peaks but, compared with used large cars, the falls have been moderate.
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