RTTNews - New vehicle sales in Australia dropped 5.2% year-on-year in August, the latest report from the Federal Chamber of Automotive Industries or FCAI said Thursday. This comes after 10.3% drop in sales in July.

A total of 73,287 vehicles were sold in August, including passenger cars, SUVs and commercial vehicles.

These figures indicate that private buyers are regaining confidence and re-entering the market, FCAI Chief Executive Andrew McKellar said.

Strong demand continues from business buyers who are taking advantage of the tax break available and the effectiveness of the stimulus measure is being reflected in the supply constraints experienced on some models, Mr McKellar added.

In the eight months ended August, new vehicle sales dropped 14.2% compared to the same period last year.

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