Statistics released by the Federal Chamber of Automotive Industries (FCAI) in September show that falling demand in resource states is affecting new vehicle sales.
New car sales are falling across the country and have decreased by 2.5 per cent for the year to date. However, Western Australia and Queensland are experiencing greater dips than the rest of Australia.
In fact, the latest figures suggest Western Australia has seen an 8.3 per cent dip in new car buyers, while Queensland has seen a 5.4 per cent decrease, and the Northern Territory a 5.3 per cent lower figure.
This drop is believed to be due to economic conditions, FCAI chief executive Tony Weber told Drive.com.au.
“When you see such a variation between states it reflects the conditions in those states,” he said.
He also suggested the mining boom could have created an artificially high base which has now dropped. Sales of light commercial vehicles has dropped, as well.
As of August, the national market for new car sales was 19,307 units behind where it was in the comparative period in 2013. However, 80 per cent of this difference is the result of lower demand in areas such as Western Australian and Queensland, as these states were 15,589 units below the same result in 2013.
This may be good news if you want to sell your vehicle, however, as those turning away from the new car market may begin to consider buying a second hand model. This means there may be more people looking to purchase your car, so you can get a better price for it.
So far, more people this year have been purchasing new passenger vehicles, although this is followed closely behind by SUVs. Small cars remain popular, while demand for light buses is still low.