Car Sales Down

Car sales figures have been released showing a drop of 3.2 per cent in March. In trend terms car sales fell by 20.2 per cent when compared with a year earlier – the weakest annual growth rate since records were maintained 14 years ago. Sales of passenger cars and sports utility vehicles were weaker however “other” vehicles (including utes, vans, trucks and buses) rose by 3.1 per cent in March, courtesy of the possible 30 per cent tax deduction on business investment.