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New car sales hit record high in June

Sales of new cars hit a record monthly high in June, with private buyers returning to the market, a survey says.

New vehicle sales was 108,722 units in June, up 5.7 per cent on a year ago, the Federal Chamber of Automotive Industries (FCAI) said on Monday.

The number of sales in June was the highest selling month ever, the FCAI said.

"The record June result was a clear demonstration of renewed confidence in the marketplace," FCAI chief executive Andrew McKellar said in a statement.

"It is encouraging to see that private buyers have returned to the market in greater numbers and have taken over the momentum previously attributed to business sales."

In the calendar year-to-date, 531,168 vehicles had been sold, up 16.7 per cent on the equivalent period in 2009.

"Given the stronger than expected state of the market over the past six months, the industry has upgraded its annual sales forecast to in excess of 980,000 units - up from our original forecast of 940,000 sales," Mr McKellar said.

"This is a positive yet cautious outlook for the second half of the year, as we assess the impact of factors on the market such as previous interest rate increases."

Sales of sport utility vehicle rose 30.9 per cent in the first six months of 2010, followed by passenger cars (up 15.8 per cent), heavy commercials (up 8.8 per cent) and light commercials (up 5.8 per cent), the FCAI said.

Toyota retained the largest market share of 20.2 per cent, followed by General Motors Holden with 12.9 per cent and Ford with 9.3 per cent.

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More about: Andrew, General Motors, Holden, Toyota

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