Home » Archives for Ashleigh Sykes » Page 9

Author: Ashleigh Sykes

Dealernomics Automotive Statistics 2024

Posted on by Ashleigh Sykes

AADA is pleased to release the 2024 edition of the Dealernomics Automotive Statistics booklet. Dealernomics Automotive Statistics 2024 is a valuable resource which provides insights into the latest trends in the automotive industry, summarising some of the most relevant and interesting data gathered from various sources.
 
This year’s extended publication includes input from some of our expert industry partners to bring you an even more comprehensive guide into the state of the industry including:

  • various statistics on new and used vehicle sales,
  • Australia’s in-service fleet,
  • the economic contribution of dealerships,
  • the sales performance of each Dealer network,
  • taxation in the automotive industry,
  • motor industry benchmarking figures, and
  • updated results from our consumer sentiment survey on EVs.

To access your essential summary of the past year in the automotive industry, download the Dealernomics Automotive Statistics 2024 booklet below.

DOWNLOAD DEALERNOMICS

VFACTS March 2024

Posted on by Ashleigh Sykes

109,647 new cars were delivered in March according to VFACTS figures released yesterday by the FCAI.

It was another record month, rounding out a record first quarter for new car deliveries. Figures for the month of March 2024 were up by 12.7% compared to March 2023. Year to date sales saw a 13.2% increase on the same period in 2023.

The AADA has assessed VFACTs Top 20 Brands & Models for March 2024, ranking them by volume.

Join Us at AADA 2024 Convention & Expo

Posted on by Ashleigh Sykes

The AADA is pleased to announce the 2024 AADA Convention & Expo details. This important industry event will be hosted at the Melbourne Convention & Exhibition Centre (MCEC), located in the heart of Melbourne, on July 24-25, 2024.

The 2024 Convention & Expo theme, ‘Driving Forward Together’, will spotlight the emerging challenges and opportunities within the dynamic online commercial landscape and the regulatory challenges around vehicle emissions. The AADA 2024 program will also focus on the impending transformative shifts in the franchised new car dealership sector and their pivotal role in car distribution. The 2024 AADA Convention & Expo program promises to tackle these evolving dynamics and provide our attendees with thought-provoking discussions and practical solutions to navigate this changing terrain.

Here’s what you can expect at AADA 2024:

  • Inspiring Keynote Presentations: Gain valuable insights from industry leaders as they share their expertise and vision for the future of the automotive retail landscape.
  • Interactive Workshops: Dive deep into emerging trends, innovative technologies, and best practices that will drive growth and resilience in your dealership.
  • Networking Opportunities: Connect with peers, forge new partnerships, and exchange ideas with fellow automotive professionals from Australia and across the world.
  • Cutting-edge Expo: Explore the latest products, services, and solutions from leading Australian and international vendors in the automotive industry.

At AADA 2024, we’re committed to empowering you with the knowledge, resources, and connections you need to thrive in today’s rapidly changing landscape.

Take advantage of our early bird rates and get your tickets for Australia’s leading automotive show.

FIND OUT MORE

Customers in Driving Seat as Used Car Listings Grow

Posted on by Ashleigh Sykes

February used car sales figures have been released today in the Automotive Insights Report (AIR). The figures released by AADA and AutoGrab show that the number of used vehicles listed for sale has increased but the number of used cars sold have dropped.

“Overall, the used car market seems to be presenting opportunities for consumers interested in buying a used car,” said AADA CEO James Voortman.

“A strong start to 2024 new car deliveries is flowing down into the used car market, with a slight rise of 1.3 per cent in the number of vehicles listed for sale in the month,” he said.

“While listings increased, sales of used cars dropped by 1.2 per cent from the previous month,” said Mr Voortman.

“Amid all the discussion on fuel efficiency standards, the number of EVs listed for sale is almost four times the number which sold in February, indicating a mismatch between demand and supply of used EVs. Petrol and diesel cars accounted for 95 per cent of used cars sold, with hybrid sales increasing by 4.6 per cent this month,” he said.

“The top 10 selling makes and models list also closely reflects preferences from the new car market, with the Ford Ranger and Toyota Hilux the top selling vehicles for the month,” he said.

“Although February saw a drop in average retained values, for vehicles aged 2-4 years, there are some cars that continue to secure good retained values for consumers with 18 of the top 20 models listed reclaiming their positions from January,” said Mr Voortman.

AutoGrab’s Chief Commercial Officer Saxon Odgers said, “This month’s findings reflect the current strength in the automotive industry, showcasing yet another strong month for car sales across the board.”

“One notable statistic is the average days to sell, which has reached its lowest point since March of last year. This shows a swift turnaround in the market, reflecting growing consumer demand and efficient inventory management strategies,” said Mr Odgers.

The Automotive Insights Report shows that in February:

  • Across Australia 286,329 vehicles were listed for sale and in that period 179,448 were sold.
  • The data shows that the overwhelming majority of used cars being bought and sold have petrol or diesel engines, occupying a 95 per cent market share.
  • The time it takes to sell a used car has gradually come down to 44 days in February after peaking in November at 52 days.
  • On average, retained values saw a month on month decrease.
  • Some popular used car models aged 2-4 years old continue to report a strong return for consumers in terms of their retained values with 18 of the top 20 models listed making a repeat appearance from January.
  • The top 10 selling cars in the used market remained very similar to the previous month with 9 of the top 10 makes and models retaining their spot in the list. It closely reflects preferences in the new car market, with the Ford Ranger taking out top spot ahead of the Toyota Hilux.

DOWNLOAD FEBRUARY AIR

Join us for the AADA Study Tour to Auto China 2024

Posted on by Ashleigh Sykes

Embark on an exclusive journey into the heart of the global automotive industry, particularly focusing on the electric vehicle (EV) landscape, in Beijing from April 26–30, 2024. Explore China’s leadership in EVs, indulge in luxury at The St. Regis Beijing, and enjoy VIP access to the Auto China Show. Limited spots available. Book now!

Agenda Highlights:
Day 1: Arrival and Welcome Reception at The St. Regis Beijing
Day 2: VIP access to the Auto China Show and International Networking Cocktail Event
Day 3: Exclusive EV Presentations and activities, culminating in the International Fellowship Dinner
Day 4: Choose between a second day at the Auto China Show or guided tours of Beijing’s iconic landmarks
Day 5: Departure from Beijing International Airport, concluding our enriching automotive exploration.

For more information, contact Patrick Tessier OAM – patrick@aadaconvention.com.au

REGISTER

VFACTS February 2024

Posted on by Ashleigh Sykes
New car sales figures were released yesterday by the Federal Chamber of Automotive Industries with another strong month for new car deliveries.
 
New car deliveries for February 2024 were up 20.9% compared to February 2023. Year to date deliveries saw a 13.4% increase on the same period in 2023.
 
AADA have assessed VFACTS Top 20 Brands & Models for Feb24, ranking them by volume.

New Research Pours Water on Vehicle Fuel Efficiency Standard

Posted on by Ashleigh Sykes

New research about car buying intentions underscores the challenges of the Government’s plan to reduce Australia’s light vehicle emissions by 60% in five years.

‘EV & Hybrid Vehicle Wave 2 Insights Report’ released by the Australian Automotive Dealer Association shows that electric vehicle sentiment is shifting at a trickle rather than a flood, while most consumers plan for their next vehicle to be a SUV or Ute.

The research is a second wave of tracking EV sentiments across the community following a similar study conducted in December 2022, collecting feedback from a sample of 2,000 Australian drivers (representative by age, gender and household location across Australia).

“The proportion of the market open to buying an EV has grown but represents only one in four buyers, as the strongest barrier to considering an EV remains the higher purchase price,” said AADA CEO Mr James Voortman.

“Most buyers are looking at a non-electric SUV or a Ute as their next vehicle. This is no surprise because these are the vehicles Australians love, but are also the cars most at risk of an overly aggressive vehicle emissions standard,” said Mr Voortman.

“It is also clear that consumers are less likely to buy a new one due to the current cost of living crisis. The last thing we need to do at this time is to further discourage consumers from buying new cars which are safer, cleaner and greener than the old cars they replace,” he said.

“We urge the Government to study this survey and adopt an emissions policy which reduces vehicle emissions in a way that protects affordability, choice and the local automotive industry,” said Mr Voortman.

Among the survey findings are:

  • Two thirds tell us they’re going to keep their current vehicle for longer than initially planned due to cost of living pressures.
  • Three in five say that they’re less open to paying more for EVs due to cost of living pressures.
  • Respondents open to buying an EV for their main vehicle has grown from 21% in 2022 to 25% in 2024.
  • Consumers are more likely to be intending on replacing their main vehicle in the next 3 years (61%, up from 53%).
  • The price premium consumers are willing to pay for an EV over a traditional fuel type is 8% up from 6%.
  • More than two-thirds believe governments should be incentivising more customers to transition to EVs.
  • 57% are not open to an EV due to perception that EVs cost too much, but this is down from 62%.
  • 62% of respondents say their next purchase will be a SUV or a Ute.

“This research confirms what we already knew, Australians continue to preference SUVs when considering their next vehicle purchase, are very conscious of price given current cost of living pressures, and intention to consider an EV on the next main vehicle driven is lowest when replacing large SUVs and utes,” said Mr Voortman.

The AADA represents 670 new car Dealers in Australia that operate over 3,000 dealerships that directly employ over 56,000 people.

DOWNLOAD FULL REPORT

DOWNLOAD MEDIA RELEASE

Used Car Sales Figures Bounce Back in January

Posted on by Ashleigh Sykes

January used car sales figures have been released today in the first monthly edition of the Automotive Insights Report (AIR) for 2024.

The January 2024 AIR shows that the average time taken to sell a used car decreased slightly this month with consumers starting the year off strongly.

“Despite the continued tightening in cost of living pressures, customers have increased their purchases of used cars in January with an increase of 7.3 per cent in cars sold compared to December 2023,” said AADA CEO James Voortman.

“The market appears to have bounced back after the holiday period, and continued strong supply of new cars has had a flow on effect in the availability of used cars in the market,” he said.

“Petrol and diesel cars accounted for 96 per cent of used cars sold, with hybrid sales increasing by 2.7 per cent this month.”

“The market for used EVs and PHEVs sales decreased in January, and the market will likely remain volatile month-to-month, with a relatively low volume of vehicles being listed for sale,” said Mr Voortman.

The Automotive Insights Report shows that in January:

  • Across Australia 282,713 vehicles were listed for sale and in that period 181,612 were sold.
  • The data shows that the overwhelming majority of used cars being bought and sold have petrol or diesel engines.
  • The used market for electrified power trains remains volatile with EVs and PHEVs seeing a 9.4 per cent and 4.5 per cent decrease in sales respectively from the previous month.
  • The average time to sell a used car is 47.7 days which is a slight reduction from the previous month.
  • Retained values held mostly steady after some recent declines and the record highs of previous years.
  • Some popular used cars are worth more on average today than when they were sold new and Toyota as a manufacturer holds 10 out of the top 20 available spots for passenger and SUV models aged between two and four years.
  • The list of top selling cars in the used market closely reflects preferences in the new car market, with the Ford Ranger taking out top spot ahead of the Toyota Hilux.


Download January AIR

VFacts – January 2024 New Car Sales Figures

Posted on by Ashleigh Sykes

New car sales figures for the month of January 2024 were released on 6 February by the FCAI with a record January result. Deliveries have increased by 5.8% compared to January 2023, with a total of 89,782 new vehicles delivered so far this year.

The AADA assessed VFACTs Top 20 Brands & Models for January 2024, ranking them by volume.

More Than 2 Million Used Cars Sold in Australia in 2023

Posted on by Ashleigh Sykes

The AADA and AutoGrab are pleased to release the first annual Automotive Insights Report (AIR) – Year That Was for 2023.

The data shows that 2,074,535 used cars were sold in Australia in 2023, with strong used car supply aligning with the record year for new vehicle sales.

“This data demonstrates the significance of the used car market in Australia with more than two million used cars sold in 2023. For every new car sold 1.7 used cars were sold, confirming that most Australians are deciding to purchase used cars,” said AADA CEO Mr James Voortman.

“The combined new and used car market saw almost 3.3 million cars sold in 2023 and it is important for industry participants, regulators and policymakers to look at the entire market when making decisions” he said.

“The demand for used cars remained robust in 2023, attributed to our growing population and cost of living pressures reducing buying power,” said AutoGrab Chief Commercial Officer Saxon Odgers.

“The good news for those looking to purchase a used car is that we’ve seen a clear downward price trajectory since March 2023 following a surge of new vehicle supply, with this pattern anticipated to persist through the first half of 2024. This represents a win for consumers who now have a choice when looking to buy their next car as new cars are available for delivery and used cars are more accessible,” said Mr Odgers.

“Congratulations to Toyota for being the top selling used car brand in 2023 and to the Ford Ranger for narrowly beating off the Toyota Hilux to claim the mantle of Australia’s top selling used car for the year,” said Mr Voortman.

“When diving into retained values of vehicles, a topic that interests many consumers and Dealers, we can see that across all age groups, utes and light commercial vehicles held their values above the average. Passenger vehicles across all age groups tracked close to the average, while SUVs were the worst performing vehicle segments in terms of retained value, sitting well below average for all age groups,” he said.

The Automotive Insights Report shows that for 2023:

  • Across Australia 2,013,465 vehicles were listed for sale in 2023 and in that period 2,074,535 were sold.
  • Exceptional demand for used cars, with 34.4 per cent growth since January, hitting its peak in November 2023.
  • Petrol and Diesel Vehicles accounted for more than 96% of used car sales, with Hybrids, (2.7%), EVs (0.7%) and PHEVs (0.1%) growing off a low base.
  • Toyota was the top selling used car brand with 16.6% market share, followed by Mazda (8.2%) and Ford (8%).
  • The Ford Ranger was the top selling vehicle with 65,938 units, pipping the Toyota Hilux (65,852) by only 86 units.
  • Used car prices declined 1 to 1.5% monthly, which was accompanied by a rise in days to sell.

The used EV market saw an almost doubling in supply and sales. However, EVs represent only 0.7% of market share; have below average retained value; and take longer to sell than petrol and diesel cars.

VIEW 2023 AIR - YEAR THAT WAS