The record-breaking numbers for new vehicle sales set through 2023 has continued into 2024 with VFACTS data published by the Federal Chamber of Automotive Industries (FCAI) showing January’s figures reaching 89,782 new vehicles sold. That’s up 5.8 per cent on the same month last year and breaks the previous January record of 88,551 set in 2018.
Sales in Queensland were up 5.4 per cent, while Western Australia increased by a whopping 25.4 per cent compared with January 2023. Figures in South Australia were up by 3.7 per cent; Victoria by 6.3 per cent and NSW by 1.2 per cent. Northern Territory recorded an increase of 11.6 per cent while sales in the ACT decreased by 7.5 per cent and were down in Tasmania by 1.1 per cent compared with the same month last year.
Toyota was the market leader with sales of 17,903, followed by Mazda (8,165), Ford (6,624), Hyundai (6,162) and Mitsubishi (5,911).
The Ford Ranger was Australia’s top-selling vehicle with sales of 4,747, followed by the Toyota HiLux (4,092), Toyota Landcruiser (2,541), Isuzu Ute D-Max (2,541) and Toyota RAV4 (2,211).
SUVs accounted for 55.5 per cent of sales while Light Commercials were 22.9 per cent. Passenger vehicles made up 18.3 per cent of sales.
Electrified vehicles remained popular, with hybrids, plug-in hybrid and battery electric vehicles making up 17.4 per cent of sales. Battery electric vehicles represented 5.4 per cent of sales.
Following the Commonwealth Government’s announcement of its pursuit of a New Vehicle Emissions Standard (NVES), FCAI Chief Executive Tony Weber noted that there was a challenge for the Government as it works to introduce that standard.
“Industry wants an emissions standard that is ambitious without limiting the choice and increasing the cost of the vehicles Australians need and want,” he said in a statement.
“Even with the current incentives offered by the Commonwealth and State and Territory Governments, sales of battery electric vehicles appear to have plateaued during recent months.
“For more than a year, the industry has been sharing information with the Government about what is happening in the suburbs and regions around the country and the preferences and challenges facing families and businesses.
“Good policy must reflect reality rather than a desktop exercise that makes assumptions about what the world can look like, and we strongly urge the Government to share its modelling with us.”
Source: Motor Trader e-Magazine (February 2024)
14 February 2024