Data released has indicated the New Vehicle Sales market is continuing to experience a decline following a weak second half of 2024.
Figures released from the Federal Chamber of Automotive Industries shows the total sales of 86,804 new vehicles in January were a 3.3% drop from the same period in 2024.
FCAI Chief Executive Tony Weber said weakness in the market in 2024 has continued through to the January result and that current economic conditions remained a major consideration for consumers in all market segments,” Mr Weber said.
“Sales of hybrids and plug-in hybrid vehicles continued to grow and now make up nearly one in five of new sales representing 17.1 per cent and 2.2 per cent of sales respectively. However, sales of battery electric vehicles were remarkably low and based on data from all sources, EVs accounted for just 4.4 per cent of sales, the lowest since October 2022. This is a major concern because consumers are turning away from EVs at the time the Commonwealth Government has introduced the New Vehicle Efficiency Standard (NVES).
“The industry continues to increase the range of zero and low-emission vehicles providing consumers with an increased choice of models and varying price points. However, the Government needs to reconsider the steps it can take to build consumer confidence in EVs, otherwise their ambitious NVES targets will not be met,” Mr Weber said.
Top 5 Models
- Toyota RAV4 – 5,076 sales (up 129.6 per cent on January 2024)
- Ford Ranger – 4,254 sales (down 10.4 per cent)
- Toyota Hilux – 3,302 sales (down 19.3 per cent)
- Toyota Prado – 2,847 sales (up 63.1 per cent)
- Mitsubishi Outlander – 2090 sales (up 0.6 per cent)
Top 5 Brands
- Toyota – 18,424 sales (up 1.3 per cent on January 2024)
- Mazda – 8,322 sales (up 0.5 per cent)
- Ford – 6,830 sales (up 0.5 per cent)
- Kia – 5,720 sales (up 0.2 per cent)
- Mitsubishi – 5,681 sales (down 0.1 per cent)
Source: Federal Chamber of Automotive Industries
5 February 2024