New car sales in Australia dropped by 2.1 per cent in September and six out of the top ten brands also recorded sales drops for the month.
As News.com.au reports, the poor result means that there is a possibility that the annual Australian new car sales record will not be beaten.
The sales record of 1,112,032 cars was set last year and, following a promising start to 2103 in which sales were up 5 per cent, there was confidence within the industry.
It is not completely clear why the September figures were so disappointing. However, the previous changes to Fringe Benefits Tax exemptions which were brought in by the previous government before the election had a negative effect on sales across the nation.
Even so, the results came as a surprise when the fact that interest rates are at a new low is taken into account.
In terms of individual brands and models, the Toyota Corolla is selling well and may become Australia’s best-selling car for the first time. At this stage, the Corolla has sales figures of 32,039, while its nearest rival, the Mazda3 has sold 30,781 vehicles.
The Ford Falcon and Holden Commodore recorded slight sales increases, but both are still selling far fewer than when at their peak.
2800 Commodores were sold in September (an increase of 13 per cent), while 846 Ford Falcons were sold (an increase of 47.6 per cent over the previous month).