It’s not only food, department stores and other general retailers which are riding something of a boom at the moment (except Coles), with sales and earnings riding high.
The Australian car industry, especially the dealer networks, is having a record time, with sales up by more than eight per cent according to the Federal Chamber of Automotive Industries’ figures for March and the first quarter, which were released yesterday
Figures compiled by the FCAI’s VFACTS sales bulletin show that a record 255,068 vehicles were sold in the first three months of the year – up 20,463 or 8.7 per cent on the same period of 2006 and surpassing the previous record for the quarter, set two years ago, of 237,000.
Sales last month were also an all-time record for the month – 94,392, up 8.3 per cent on March 2006.
Compared to the depressed months of 2006, it’s a strong rebound, with imports and sales of light and small fuel-efficient cars still leading the way as buyers change their buying habits away from big fuel guzzlers, towards vehicles with greater efficiencies.
Even though petrol prices rose around 8 per cent in March, sales of larger medium and locally made six cylinder vehicles edged up, but nowhere at the rate of smaller vehicles
In its VFACTS sales bulletin, the FCAI said the 94,392 new cars and trucks retailed last month compared to 87,156 in March last year.
The first quarter figure rise of 8.7 per cent compares to rises of 9.9 per cent in January, 8.1 per cent in February and March’s 8.3 per cent.
Toyota was again the leading seller in March with 21,390 vehicles ahead of Holden on 13,454 and Ford on 10,074.
Toyota was also ahead on a year-to-date basis with 56,230 vehicles.
“By any measure it’s a remarkably strong start to the year and one that has probably taken even the optimists in our industry slightly by surprise,” said FCAI Chief Executive Peter Sturrock, said in a statement yesterday.
The FCAI is forecasting a sales total this year of 970,000.
Sales of family cars in the large (fuel hungry) passenger vehicle segment grew an encouraging 4.7 per cent last month compared to March 2006.
The segment was boosted by strong sales of Holden Commodore, which was Australia’s best-selling model with sales of 5752, and the six cylinder Toyota Aurion with 2037 sales.
Small passenger car sales rose 8532 or 16.7 per cent in the first quarter while light car sales grew 11.9 per cent or by 3334. Sales of so-called Compact SUVs rose 2851 or 22.2 per cent.
Sales in the Pick-up/Cab-chassis 4×4 segment grew by 4614 or 30.0 per cent in the first quarter.
BMW sales fell 3.4 per cent in the first quarter while rival luxury operator, Mercedes Benz saw itssales drop 2.9 per cent.
Holden sales fell 1.5 per cent and Ford’s were off 7.9 per cent.
Toyota’s sales were up 14.3 per cent in the quarter, Volkswagen, 56.5 per cent, Nissan, 40 per cent, Mitsubishi, 21.1 per cent (mostly imports of smaller vehicles), Mazda, 21.5 per cent and Honda, 22.4 per cent. Suzuki sales were up 28.9 per cent in the first quarter.
Sales of South Korean Hyundai were down 17.8 per cent and Kia, 11.5 per cent: both notable given the two companies are heavy advertisers and make smaller fuel-efficient two litre or small cars.
There are not many car retailers listed but Automotive Holdings of Perth (AHE) stands out with its aggressive expansion into east coast markets in recent months.
Last month it paid around $117 million in cash and shares for the privately owned Zupps group in Brisbane and late last year bought the McGrath Lander Group in Sydney.
Its shares equaled their all time high of $3.45 yesterday.
