Brighter May Sales Figures
We can happily report the first bit of good sales news in many, many months.
The Government’s 30percent and 50 percent tax incentives seem to have worked, if recent sales patterns are a guide.
The new car market is showing clear signs of recovery. Whilst sales were down 15 percent year on year for May this compared favourably with the 20percent drop in the first four months of the year.
The Government is giving big business a 30 percent tax rebate on car purchases, providing orders are placed by 30th June 2009, whilst small business ($2mil p.a. or less) will enjoy a 50 percent tax bonus extending to December 2009 on their vehicle purchases.
So who were the big winners in May?
Four wheel drives did well, but the most impressive figures came from Korean car maker, Hyundai, who recorded a huge 32 percent sales lift, led by the highly popular i30 small car.
This has clearly surprised many manufacturers and importers as dealers are reporting stock shortages throughout Australia.
Particularly affected are Honda dealers who have suffered a 60 percent reduction in their allocation this month.
June sales, therefore, may well depend on stock availability rather that pure demand
Level 2, 9 Help Street