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Financial News: Australia Auto Sales Continue To Decline In October

Australia Auto Sales Continue To Decline In October

11/06/2019 - 00:59:00 (RTTNews)

(RTTNews) - Australia's automobile sales continued to decline in October, data published by the Federal Chamber of Automotive Industries, or FCAI, showed on Wednesday.

Auto sales decreased 9.1 percent year-on-year to 82,456 units in October. Year-to-date sales were almost 78,000 units lower than in the same period last year.

"While the drought and other domestic conditions are impacting the market, our key concern is the effect over-regulation of the financial sector is having on new vehicle sales," Tony Weber, chief executive of the FCAI, said.

Data showed that the passenger vehicle market was down by 4,249 vehicle sales or 15.3 percent over the same month last year and the sports utility vehicle sales dropped 1,201 or 3.0 percent.

Toyota was the market leader in October, followed by Hyundai and Mazda.

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