With the market shrinking worldwide, Australia's new vehicle sales for May dropped a further 14.9 per cent (13,201 vehicles - compared to same time last year) for a total of 75,439 cars, SUVs and commercials.
However on a positive side of things, there was an increase in business purchases to help inject some confidence into the market. Business buyer sales were only down 7.2 per cent on a year ago. Additionally, Australians bought 11,476 more vehicles in May compared to April.
"The May figures provide a tangible indication that new vehicle sales have stabilised and indeed there are even grounds to suggest we may see signs of improvement in coming months," FCAI Chief Executive Andrew McKellar said.
The FCAI believes "the Federal Government's business tax break is proving extremely effective, providing a much needed boost to vehicle sales and stimulating economic activity.
As it stands now, year-to-date 352,374 new vehicles have been sold which is down 19.2 per cent compared to the same period last year.
The winners are Toyota with 15,481 vehicle sales, ahead of Holden with 9,177 and Ford with 8,440.
To see the full table for May 2009. Click here.