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Car Sales Up in January 2010

published  First Published: 02/02/2010
Article written by: David Wheaton
Sales of passenger cars, special utilities and commercial vehicles were 74,864 in January, up 11.6 percent on January in 2009, the Federal Chamber of Automotive Industries (FCAI) said on Wednesday.
 
The figures are not seasonally adjusted but are the base for the Australian Bureau of Statistics' report due on February 22nd.
 
"This is a strong result and provides the market with a confidence boost heading into 2010," FCAI chief executive Andrew McKellar said.
 
"Business purchases remained strong in January, with some buyers taking delivery of vehicles ordered last year under the federal government's business tax break."
 
Mr McKellar said cars were becoming more affordable, aided by the tariff cut on many imported vehicles.
 
The federal government lowered the tariff on imported cars from 10 per cent to five per cent on January 1.
 
"New-car buyers have effectively been handed a 'tax cut' and many brands have moved quickly to reduce prices or increase vehicle specifications," Mr McKellar said.
 
"As a result, it is expected that this will encourage private buyers to return to the marketplace in greater numbers throughout the year."
 
Toyota continued to be the top seller, with a market share of 19.5 per cent, followed by Holden with 14 per cent and Ford, nine per cent.
 
Garry Dickesson of AA Family Motors, one of the largest used car dealers in Adelaide, said that the increase in consumer confidence had a flow on effect to used car sales as well.
 
"Our January was one of the best January's in 25 years" Garry said.
 
Tony Sewell of Rockwell Finance, one of the largest car loan lenders in Adelaide for bad credit car loans Adelaide, said that there was very strong demand for bad credit car loans, and their approvals were also up in January.
 
"Due to the recent economic down turn, there are many people who have had defaults placed on their credit file because of late payments; yet many of these were due to people losing their jobs, so the income dried up, while the committments remained the same, and we were able to assist a good number of people in January" Tony said.
 

 

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