New car sales drop in 2014

If the latest findings from the Australian Bureau of Statistics are anything to go by, it appears the new car market in Australia is experiencing a lull.

In fact, new vehicle sales decreased by a seasonally adjusted figure of 1.8 per cent in August compared to July figures. Over the course of the year, these figures have dropped by 3.5 per cent compared to the corresponding period of 2013.

The seasonally adjusted figures saw 91,391 cars sold in August throughout the country. 

Sales of passenger and sports utility vehicles decreased markedly in August when compared to July. In fact, passenger vehicles were down 1.8 per cent and sports utility vehicles by 3.7 per cent.

Tasmania recorded the largest decrease of 1.6 per cent, followed by the Northern Territory (1.5 per cent) and Western Australia (0.9 per cent).

This could be good news for those selling their cars however, as consumers may be more inclined to buy a second hand vehicle rather than purchase a brand new model.

There are a myriad of reasons why Australians may opt to buy a pre-loved car rather than a top of the range model.

For instance, new cars depreciate – meaning they lose value quickly. Often buyers may choose to purchase a car strategically in terms of its life span. 

Some buyers may be concerned with the environment, as it can be more environmentally savvy to extend the life of an existing vehicle rather than purchasing one that requires more energy and materials to build.

Choosing a car that has gone through the AreYouSelling process is a safe option for new car buyers as the qualified team of experts would have assessed the car to rule out any problems.