In October, vehicle registrations in Australia fell by 6.79% with respect to October of 2004. In total, 76,118 cars were registered and 988,769 new cars were sold in the last twelve months, 4.54% more than the year before.
The breakdown of car sales figures for the month of October is:
- Commercial vehicles sold: 27,684, 5.76% less than in October of 2004.
- Passenger cars regitrations: 48,434, which represents a figure of 7.37% less than in October of 2004.
Australia is among the ten countries where the greatest number of cars have been registered in the last year, in ranking of 31 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 49.33 cars per 1,000 residents, 3.8 of them in the last month, Australia, occupies 7th place, so, compared to the other countries in the ranking, its population has a good standard of living.
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.
Changes in Australian vehicle registration numbers are shown in the tables below. As several studies indicate, these changes are very much related to changes in GDP and, hence, to a country's economic situation. Sales have grown since 1995, as 644,761 were produced that year as have the number of registrations per thousand residents, which that year numbered 36.03.
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.