More Than 2 Million Used Cars Sold in Australia in 2023

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. It demonstrates the significance of the used car market in Australia, for every new car sold, 1.7 used cars were sold.

The combined new and used car market saw almost 3.3 million cars sold in 2023 and AADA will continue to advocate that it is important for industry participants, regulators, and policymakers to look at the entire market when making decisions.

For retained value 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.

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 per cent of used car sales, with hybrids, (2.7 per cent), EVs (0.7 per cent) and PHEVs (0.1 per cent) growing off a low base.
  • Toyota was the top selling used car brand with 16.6 per cent market share, followed by Mazda (8.2 per cent) and Ford (8 per cent).
  • 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 per cent 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 per cent of market share; have below average retained value; and take longer to sell than petrol and diesel cars.

Dealers seeking more granular and local data can contact AutoGrab directly for a tailored solution.