Australian Motor Vehicle Sales -3.4% on Month in July

The sale of motor vehicles in Australia declined by a seasonally adjusted 3.4 percent in July compared to the previous month, the Australian Bureau of Statistics said on Thursday, standing at 85,411. That was lower than the revised 1.1 percent monthly increase in June.

Seasonally adjusted, sports utility vehicles fell 11.9 percent and passenger vehicles decreased 2.1% in July, while other vehicles increased by 1.2%. The largest decreases is sales came in Victoria at 5.0 percent, Queensland at 4.4 percent and New South Wales at 4.3 percent. The Northern Territory was up 6.4 percent and Tasmania gained 4.7 percent. On an annual basis, motor vehicle sales were down a seasonally adjusted 4.1 percent after a revised flat reading in the previous month.  Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved