Vehicle demand on the rise
If you are an investor in ARB or any listed business exposed to car sales such as Super Retail Group or Automotive Holdings, you may be interested in the latest Vfacts stats below that were kindly sent to us by our friends at broker Taylor Collison.
February VFACTS Summary
New car sales: February sales up 5.2% yoy and YTD sales tracking 8.2% ahead of this time last year. January and February 2012 were severely affected by the Thai flooding and this is best reflected by the surge in SUV and Ute imports with 2013 YTD registrations for the former increasing 17% and the latter surging 53%. Demand appears to be supported by the private sector with government registrations down 30.2% compared to February 2012. Geographically registrations increased across all regions however WA was the stand-out of the larger states up 10.4% on pcp.
Utes continue to gain in popularity with the 12,072 registrations in February the second highest month on record and 12% ahead of the average for the last 12 months. Interestingly, 4×4 Ute sales comprised a record 13.4% of total vehicle sales for the month and accounted for 4 of the top 10 top selling models whilst 4WD share held steady at around 43% (800bps ahead of this time last year). As 4WD market share edges closer to the ~50% light truck share exhibited in the USA, we have noted an interesting change in tone from ARP with some cautious remarks concerning overcrowding in the ute market and an overexposure to Australia.