Australia Autos Report - Business Monitor International - Industry Reports

Australia Autos Report

Australia Autos Report - Business Monitor International - Industry Reports
Australia Autos Report
Published Sep 03, 2016
39 pages — Published Sep 03, 2016
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Abstract:

� Business Monitor International Ltd Page -- even cut again, to -.-- , by H---, this means that carmakers selling onto the Australian market will continue to offer highly attractive auto financing rates. Third, we would anticipate the three remaining local automakers (Toyota, Holden and Ford) to offer strong sales promotions as they near the end of local auto production in ---- and as they seek to run down their remaining stock levels. ...The country s near-term economic outlook remains poor, with our Country Risk team forecasting growth of -.- in ----, falling to -.- in ----. In particular, we still expect the key mining sector to struggle under the weight of declining external demand for Australia s raw materials, which will undermine demand for heavy commercial vehicles, while we also expect domestic demand to slow. The unwinding investment boom in the mining sector will continue to act as a major headwind to growth over the coming years, and this will be compounded by weakness in the overvalued property market. ...We are currently targeting growth of at least --.- over the --------- forecast period. We expect stronger sales growth from commercial vehicles (--.- ) than passenger cars (--.- ) over this period.

...Australia, representing growth of -.- y-o-y, according to figures from Australia s Federal Chamber of Automotive Industries (FCAI). Consequently, we leave our sales forecasts unchanged this quarter. ...From July - ----, the government increased the small business entity turnover threshold to AUD--mn (from AUD-mn) and extended a range of concessions, while the corporate tax rate of businesses with annual turnover of below AUD--mn was lowered to --.- from --.- . The tax rate for all companies was progressively lowered to --.- (from --.- ) by FY----/-- In terms of personal income tax relief, from July -, the government raised the --.- tax threshold to AUD--,--- (from AUD--,---), and this will benefit approximately ---,--- taxpayers as they will no longer face a higher tax rate of --.- . This lower tax and lower interest rate regimen will free up capital from businesses to invest in fleet renewal, which should boost light commercial vehicles (LCV) sales, as well as give support to private consumers looking to buy passenger cars (PCs) and SUVs. Second, the country continues to enjoy record-low interest rates, with the Reserve Bank of Australia (RBA) cutting rates again at its August ---- meeting, to just -.- .

...We maintain a constructive view on Australian new vehicle sales, given falling interest rates, recently- announced tax cuts and the likelihood of sales promotions ahead of the scheduled end of local production in ----. -M-- sales figures bear out our view that ---- will prove another record-breaking year for Australian new vehicle sales. ...

  
Source:
Document ID
1748-9768
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Australia Autos Report" Sep 03, 2016. Alacra Store. Dec 03, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Australia-Autos-Report-2026-2>
  
APA:
Business Monitor International - Industry Reports. (2016). Australia Autos Report Sep 03, 2016. New York, NY: Alacra Store. Retrieved Dec 03, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Australia-Autos-Report-2026-2>
  
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