It is reported today that new car sales across Australia in July 2023 were a monthly record with dealers delivering 96,859 vehicles, about 14.7% above July last year and exceeded the previous July record set back in 2017.
About 18% of the cars sold had some form of electrification including 7% that were fully battery EV's.
This is great news for SIQ and the other listed salary packaging and fleet maintenance companies listed on the ASX.
I expect the improved supply chain availability of vehicles to improve over the rest of FY'24 and I also expect a huge uptake of EV's under new novated leases.
Hang onto your hats folks as this sector is about totake off.
Cheers...............D
SIQ Price at posting:
$8.69 Sentiment: Buy Disclosure: Held
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