Car registrations

Recovery in large used car registrations

5 Dec 2019

Our take on the latest Car registrations (Thu 5 Dec 2019)

New car registrations slowly growing at 1.0%pa
Used car registrations up 4.6%pa
Large used car registrations recover after nearly 2 years of decline

The key numbers...

  • Total car registrations showed some recovery in November after a weak result in October. Monthly car registrations rose 3.0%pa across all categories.
  • Total used car registrations grew 4.6%pa, thanks to small used cars climbing 9.7%. Large used cars recovered from nearly two years of decline to grow 0.9%pa.
  • New car registrations crept up 1.0%pa in November. This result was a marked improvement from the previous month’s 9.7%pa decline.

Used large car registrations

Annual running total
3470

...and our reaction

  • A modest rise in the number of large used car registrations in November was unexpected, and follows 21 consecutive months of decline.
  • Strength in retail spending during the September quarter indicates that consumers are more willing to spend than we initially thought. With consumer confidence holding up households might begin to feel more comfortable making larger investments, like buying a car.
  • Despite stronger household spending, we still expect the car registrations to decline over the next year, in line with weaker economic growth.