The new-vehicle market remains strong with Federal Chamber of Industries (FCAI) reporting VFACTS sales numbers of 99,486 last month – a record for July. This result is 2.7 per cent higher than the July 2023 result which was the previous highest July on record.
Sales in Queensland increased 6.2 per cent to 20,937; NSW was up 2.9 per cent to 30,361; Northern Territory was up 4.9 per cent to 947; South Australia increased 4.7 per cent to 6,921; Tasmania had a decrease of 12 per cent to 1,564; Victoria decreased 1.6 per cent to 26,667 and Western Australia increased 8.9 per cent to 10,671. The ACT was down 1.4 per cent on July 2023 to 1,418.
Toyota was the market leader with sales of 22,705 in July, followed by Mazda (8,476), Ford (7,749,) Kia (6,620) and Hyundai (6,021).
The Toyota RAV4 was Australia’s top selling vehicle with sales of 5,933 in July followed by Ford Ranger (4,915), Toyota HiLux (4,747), Toyota Corolla (2,688) and Toyota Landcruiser (2,464).
FCAI Chief Executive Tony Weber said the result would have exceeded 100,000 if Tesla and Polestar sales were included in the VFACTS numbers.
“This is a remarkable achievement in an economy featuring widespread cost of living pressures. It was also interesting to note that while sales in the Business and Government segments were up 13.7 per cent and 37.5 per cent respectively, Private sales were down 4.2 per cent.”
Mr Weber added there were several important points coming from the July result.
“Consistent with trends in many overseas markets, sales of hybrid vehicles are up 88.4 per cent and plug-in hybrid vehicles are up 128.9 per cent compared with July 2023. Sales of battery electric vehicles – with the inclusion of the reported Tesla (2592) and Polestar (103) results – are currently at 6.6 per cent of the market, down from 7 per cent in 2023.
“The hybrid performance is highlighted by the fact that the Toyota RAV 4 was the top-selling vehicle for the month ahead of Ford Ranger and Toyota HiLux. Most RAV 4 sales are hybrids.
“While the first seven months of 2024 have exceeded expectations, the industry remains cautious about the future pending the implementation of the New Vehicle Efficiency Standard coupled with the economic conditions.”
Source: Motor Trader e-Magazine (August 2024)
7 August 2024