Our take on the latest Car registrations (Thu 9 Jan 2020)
New car registrations grew 6.2%pa
New small car registrations rebound 27%pa
Used car registrations grew 5.1%pa
The key numbers...
- Total car registrations made a substantial recovery in December, growing 5.6%pa, the fastest rate since January 2018.
- New small car registrations climbed 27%pa.
- Used car registrations grew across the board, with used small cars growing 7.8% and used large cars growing 3.1%pa.
- New large cars were the only category that saw a decline in registration numbers, easing 0.7%pa.
Total car registrations
Annual running total
...and our reaction
- According to the ANZ-Roy Morgan Consumer Confidence Survey, consumer confidence has risen for a third consecutive month, leaving the proportion of households who think now is a good time to purchase a major household item at 44%.
- Strength on the consumer front is further illustrated by recent retail trade figures, with retail trade volumes up 4.5%pa in the September quarter.
- The past few months have seen a positive end to an otherwise underwhelming year for car registrations, with total registrations for the 2019 year 4.3% lower than total registrations for 2018.
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