Incentivised Car Sales Growth Coming To An End

Tax breaks on company assets have helped to stimulate car sales in Australia, but by July, sales were falling once again as the 30% reduction in tax for larger companies came to an end. Total vehicle sales for the month fell by 10.3% year-on-year (y-o-y) and 26.7% compared to June. When the sales are broken down by segment, it is noticeable that the Upper Large car segment, which includes larger executive cars, suffered the largest drop in sales in July. Segment sales were down by 45.8% y-o-y, compared to a drop of 19% for the large car segment and 23.3% for the medium class.

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