Money Minute – July 6 2017 “Ute Sales Soar”

Ute Sales Soar

Ross Greenwood: I’ve got a slightly odd question for you this morning  why do Aussie’s love utes so much?

Because after decades of this  – the Holden  Commodore being the top-selling car in Australia –  well I got to tell you, then this became the  top-selling car after that, and that is the Toyota Corolla – the snappy and cost-efficient car.

Then this – the zippy Mazda 3, which coincidentally is the same price that was 20 years ago.

But right now – it’s this the Toyota Hilux.

That’s for nation’s top selling car… look it’s a ute!

And this is the second top-selling car in the country. the Ford Ranger.

Look at that, it’s another ute.

Now don’t get me wrong, a ute has all sorts  of very practical applications – like this –  if  you gathered any ute muster, doing it with a circle, work you definitely need a  ute for that.

Tradies, farmers, miners, they all love the Utes to put things in the back of  – tools, dogs, surfboards, your loved ones, but I still don’t get it.

In June this year there were 5461 Toyota Hilux’s sold.

In fact, there’s been close on 51,000 Hilux’s sold this year.

In June, the Ford Ranger sold 5051, way outstripping the sale of ford’s traditional sedans.

What’s happening is that we’re buying a lot of vehicles in total.

The latest financial year – 1.79 million vehicles that’s a record of those SUVs at 38% of all sales.

Now some of this might be a good sign for the economy

It could be with the government’s instant asset write-offs, up to $20,000 – a lot of tradies trying to find some way to buy a new vehicle.

It’s also low interest rates and the fact the car companies waged something of a price war on utes and SUVs in June leading  up to the end of the financial year.

So if trading and subbies of all sorts are confident enough to go out and buy new vehicles, it could be a pretty good sign for the overall economy.

But let’s get back to what utes were really made for…how good, can I tell you ,is a bit of circle work.

I still don’t see what we’re buying so many of them.

Markets

Dollar 76 US cents…Dow Jones down just .1

This months Money Minute links

Money Minute  July 19 2017 Signs Of Life

Money Minute – July 19 2017 “Higher Rates?”

Money Minute – July 17 2017 “Melbourne the Best Housing Return”

Money Minute – July 18 2017 “Dollar High”

Money Minute  July 3 2017 Media Players

Money Minute  July 6 2017 Ute Sales Soar

Money Minute  July 5 2017 Whats The Best Interest Rate?

Money Minute  July 4 2017 Rate Rise Coming?

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