Talk Money: June 3, 2016
May was another record setting month for new vehicle sales.
The Motor Industry Association says 11,180 vehicles were registered last month. That was an increase of 11 percent from the same month last year.
It was the strongest May on record since the industry started keeping records in 1975.
The construction industry is helping boost vehicle sales. The top three sellers were all double-cab utes.
The Ford Ranger was the highest selling commercial model, followed by the Toyota Hilux and the Holden Colorado.
The numbers were released on the same day economists at ANZ and Westpac suggested the economy might be strong enough for the Reserve Bank to hold off from cutting interest rates next week.