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Car Finance: SUVs the highest sellers in February

Car made of a ten dollar note

Vehicle sales although 7.7% down on last year showed an interesting turn; SUVs were the highest sellers, outpacing passenger cars for the first time in February 2017.

The Commonwealth Bank recently noted that customers are 'spending, not splurging' but with a 'sustainable sales pace' which has 'matched the pace over the last 6 months and exceeds both the 5 year and decade average sales growth of 0.3% a month".

This means that although there is cautionary approach from customers, they are still choosing vehicles which suit their needs.

The retail price of petrol also fell in the week prior to this report being released o an 8 week low of 128.7 cents per litre.

It's getting close to the end of the financial year and if you own a business and need a car...call me!