The Northern Territory is facing unprecedented change as it transitions from a high dependence on construction and mining related activity to an export (liquified natural gas) and consumption driven economy.
August saw a strong increase in overall sales in the Australian market following a soft July result.
Further to our August Insight, Hyundai i30 sales figures fell for the second consecutive month after a record June month. The i30 has now fallen to third on the Year to Date (YTD) sales leader board.
At the end of June and the halfway point of the year, Year to Date (YTD) total unit sales has increased 3% with 19,668 additional vehicles sold compared to H1 last year. Hyundai sold a record number of i30 hatchbacks in June, shocking the industry.
If Australian and New Zealand companies needed a reminder of the obstacles in doing business in China, events in mid-April were timely.
Earlier this month, Australia’s Deputy Prime Minister, Barnaby Joyce, called on Australia’s superannuation funds to invest more in the agriculture sector. The Deputy PM’s comments were well timed and echo the view PPB Advisory has put forward for some time.
In this update, we analyse March 2016 vehicle sales.
Overall vehicle sales for March 2016 have fallen 1% year-on-year (YoY). Locally manufactured vehicle sales continued to deteriorate due to declines from all three local manufacturers. Year-to-date (YTD) vehicle sales are up 3% with 7,734 more sales than last year.