SYDNEY: Passenger cars are haemorrhaging market share in Australia as sales of sport utility vehicles shatter records and the gap between the two segments shrinks to its smallest, propelled by the popularity of compact SUVs.
Passenger cars still take up the larger share of Australia's estimated $61 billion auto market. Sales were around 40,000 of the just over 90,000 vehicles sold last month, compared with 30,000 SUV sales. But with passenger car sales sliding 7.3 percent from a year earlier and SUV sales gaining 5.8 percent, the gap between the two shrank to its smallest, 10 years of data from the Federal Chamber of Automotive Industries shows.
"That gap is closing quite quickly, and we're expecting that trend to continue to be driven by the smaller, compact SUVs," said Spencer Little, an industry analyst with Australian market research firm IBISWorld. "They're more versatile - families love them. Their price is lower, they're smaller than the larger SUV models but still roomy."
Read more at:
http://economictimes.indiatimes.com/news/international/business/sales-of-sport-utility-vehicles-shatter-records-in-australia/articleshow/47611080.cms
Passenger cars still take up the larger share of Australia's estimated $61 billion auto market. Sales were around 40,000 of the just over 90,000 vehicles sold last month, compared with 30,000 SUV sales. But with passenger car sales sliding 7.3 percent from a year earlier and SUV sales gaining 5.8 percent, the gap between the two shrank to its smallest, 10 years of data from the Federal Chamber of Automotive Industries shows.
"That gap is closing quite quickly, and we're expecting that trend to continue to be driven by the smaller, compact SUVs," said Spencer Little, an industry analyst with Australian market research firm IBISWorld. "They're more versatile - families love them. Their price is lower, they're smaller than the larger SUV models but still roomy."
Read more at:
http://economictimes.indiatimes.com/news/international/business/sales-of-sport-utility-vehicles-shatter-records-in-australia/articleshow/47611080.cms
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