The Australian Automotive Dealer Association (AADA), with data provided by AutoGrab, has released the 2024 Year That Was Automotive Insights Report (AIR), providing a comprehensive analysis of the Australian used car market. While the market experienced strong growth for most of 2024, momentum slowed in the final months, signalling a more measured outlook for 2025.
This is the second annual release of the Year That Was AIR. According to the report, total used car sales in 2024 reached 2,324,805 units, a 12.1 per cent increase compared to 2023. Sales peaked in July, with sustained demand throughout much of the year before easing towards the end. Listings, on the other hand, peaked in November, highlighting a softening in consumer demand relative to supply.
While demand remained healthy, there were signs of cooling, particularly in the latter months, as affordability pressures and economic factors come into play. Profit margins tightened, and days to sell increased by 15 per cent for listings between August and October, further indicating that slowdown.
Toyota remained the top-selling brand, with 390,298 used vehicles sold, followed by Mazda and Ford. Among individual models, the Ford Ranger led with 82,448 sales, ahead of the Toyota Hilux and Toyota Corolla.
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