In October, vehicle registrations in Australia fell by 6.6% with respect to October of 1998. In total, 61,256 cars were registered and 786,189 new cars were sold in the last twelve months, 1.32% less than the year before.
The breakdown of car sales figures for the month of October is:
- Commercial vehicles sold: 19,094, 10.59% more than in October of 1998.
- Passenger cars regitrations: 42,162, which represents a figure of 12.74% less than in October of 1998.
Australia is among the ten countries where the greatest number of cars have been registered in the last year, in ranking of 22 countries based on number of vehicle registrations.
A very useful variable for estimating the level of economic wealth enjoyed by Australians residents, when compared to the other countries in the ranking, is the number of vehicles sold or registered per thousand residents in the last year. With annual sales of 42.03 cars per 1,000 residents, 3.27 of them in the last month, Australia, occupies one of the final places in the ranking, meaning that its population is among those in the table with the least spending power.
As can be seen, the number of registrations per thousand residents has fallen in the last year. A drop in registrations generally indicates a fall in consumer confidence and, when it is sustained, a recession in the real economy.
Here we show you the progression of vehicle registrations in Australia. You can see car registrations in other countries in en vehicle registrations and see all the economic information about Australia in en Australian economy.