2024 New Car Sales Result Released

VFACTS for December 2024 and the full calendar year were released this week by the Federal Chamber of Automotive Industries.

New vehicle sales in 2024 surpassed the previous record set in 2023, observing a 0.3% increase to 1,220,607 sales. While there was a 2.7% drop in December 2024 sales compared to the same time last year, the overall growth for the year could be attributed to the influx of more affordable Chinese vehicles into the market.

Toyota retained its top spot for 2024, selling 241,296 cars. Despite the arrival of new makes, Toyota remains the most popular car brand for the year, increasing its market share from 17.7% in 2023 to 19.8% in 2024. The top four brands remained unchanged, with Ford (100,170), Mazda (95,987), and Kia (81,787) following Toyota’s lead. Meanwhile, Hyundai was replaced by Mitsubishi in fifth place with 74,547 sales.

While Battery Electric Vehicles (excluding Tesla and Polestar sales from July 2024) recorded a decline in sales by 14.5% compared to 2023, consumers are increasingly opting for fuel efficient vehicles with sale of hybrid vehicles rising by 76% to 172,696 units sold in 2024.

Across vehicle types, consumers continue to hold a strong preference for SUV and light commercial vehicles, collectively representing around 79% of total sales.

With the New Vehicle Efficiency Standard (NVES) commencing this month, 2025 is expected to be a challenging year for the industry as Dealers and OEMs respond to the changing policy environment while continuing to maintain business viability.

The AADA has assessed VFACTs Top 10 Makes & Models YTD, ranking them by volume. The AADA has also analysed new vehicle sales figures by state for both the month of December and YTD, as well as fuel types and market segments.

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