Vehicle sales in Western Australia have slumped nearly 21 per cent in November as the global economic downturn takes a heavy toll on the national auto sector.
Vehicle sales in Western Australia have slumped nearly 21 per cent in November as the global economic downturn takes a heavy toll on the national auto sector.
The Federal Chamber of Automotive Industries said today 8284 vehicles were retailed in November, down from 10,435 units sold in the same period last year.
Nationally 71,617 new cars and trucks were retailed in November, a plunge of 20,464 or 22.2 per cent on the 92,081 sold in the same month last year.
The FCAI said the November result left the year-to-date market down by 2.9 per cent compared to the same period in 2007.
But it said sales for the full year were still expected to top one million and give the industry its second best year on record.
It tipped total sales to reach about 1,019,000, below the record 1,049,982 retailed last year.
FCAI chief executive Andrew McKellar said the November market reflected a further softening of economic conditions after demand fell by more than 11 per cent in October.
"It is clear that people are being more cautious with their money as the magnitude of the global financial crisis deepens," Mr McKellar said.
"Certainly the most recent interest rate cut was well justified and it is hoped this will help restore some confidence and stability to the marketplace.
"On the upside, there are going to be some very competitive opportunities for anyone considering buying a car in the near future."
Toyota was the top selling company last month with 17,473 vehicles, ahead of Holden on 9,719 and Ford on 7,233.
Toyota also led the market overall to the end of November with 219,984 vehicles, compared to 119,490 for Holden and 97,216 for Ford.
The company's senior executive director of sales and marketing, David Buttner, said Toyota was optimistic that recent developments, including the interest rate cut, would help lift confidence among private and business consumers.
"Interest rates are coming down fast and experts such as the OECD are predicting Australia's economy will continue to grow, avoiding a recession," Mr Buttner said.
"There is plenty of new-vehicle stock, which is fuelling extremely attractive deals across the country.
"While that means great buying right now, we also know that recommended retail prices on many imported vehicles are set to increase in the new year."
Holden had the top selling car in November, the company retailing 4,365 Commodores to head off the Toyota Corolla on 3,486 and the Ford Falcon on 2,555.
Other top selling models were the Mazda 3 (2,343), Toyota Yaris (2,153), Toyota HiLux 4x4 (2,075), Mitsubishi Lancer (1,922), Toyota Camry (1,820), Hyundai Getz (1,501) and the Toyota Aurion (1,481).
