Australia Motor vehicle sales down as tax exemptions removed
The month of February saw a decline in total motor vehicles in Australia. As against January, the total sales for February were 85,035, a drop of 1.9 per cent.
This has happened, say industry experts, because of the rolling back of the tax breaks given by the government. It has led to a fall in investment and thus directly impacting the commercial vehicle segment.
The category known as the 'other category' fell by 8.6 per cent and the passenger auto segment saw a fall of 0.1 per cent.
However, if compared to last month, this has done well. It was a drop of 17.5 per cent in the previous month, said the Australian Bureau of Statistics.
As compared to the same time last year, the sales were up by 17.1 per cent.
The economists said that the major drop has been in the 'other vehicle' segment which has slumped by 26 per cent in the last two months.
The sports utility vehicles have gone up by 0.14 per cent in the same period.
And despite these figures, the economists and the industry people are optimistic about the future performance.