Market Insight: Premium car sales fall 7.3 per cent

-AUSTRALIA’S cooling new-vehicle market was felt keenly across the prestige motor sector last year, with sales declines in major categories running deep as combined sales of passenger cars and SUVs at the top end of town fell by 7.3 per cent.

-As the overall passenger/SUV market (excluding commercial vehicles) dropped 4.6 per cent for the year, dragged down in no uncertain terms by a 15.9 per cent freefall in passenger car sales, VFACTS figures show that registrations of new prestige and luxury passenger cars fell 18.6 per cent (or 10,722 units) – from 57,545 sales in 2017 to 46,823 – while the growth in SUV sales was nowhere near strong enough to offset the decline.

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