New car sale figures released by the Federal Chamber of Automotive Industries show a drop in sales by 12.4% to 97,020 in September compared to the same month last year. Year to date, sales are up by 3.1% on the same period in 2023.
Automotive trends, including a rise in hybrids and falling EV demand continue, with hybrids recording an 87% growth rate over 2023. On the contrary, EV sales decreased to 3,561 from 8,821 in September 2023, nearly halving despite the increasing supply of Chinese EVs and subsequent price discounts.
The AADA has assessed VFACTs Top 10 Makes & Models YTD, ranking them by volume. The AADA has also analysed new car sales figures by state for both the month of September and YTD, as well as fuel types and market segments.
Category: Sales
AIR: August Used Car Market Sees Budget Savvy Buyers Turning to Hybrids
The August edition of the Automotive Insight Report (AIR) shows softening used car sales
with the exception of hybrids, which are proving popular for cost conscious buyers.
The monthly used car market data published by the AADA and Autograb shows a jump in
the listings of used cars by 4.9% to 299,147 while sales declined by 3.6% to 206, 804.
Despite the increase in supply, the average days to sell have continued to decrease,
reaching a new low of 42.7 over the past 12 months, indicating sellers are motivated and
buyers are ready to snap up a good deal.
“In line with the new car sales trends, demand has decreased for used cars, with all states,
except South Australia and Tasmania, recording a drop in sales,” said AADA CEO James
Voortman.
“Western Australia saw the largest increase in used car supply, with listings up by 15.1%. In
contrast, the Australian Capital Territory and Northern Territory were the only regions with a
tightening market, recording significant supply drops of 15.4% and 14.9%, respectively,” Mr
Voortman said.
“Supply of used cars increased across all vehicle categories, with SUVs and LCVs showing
the highest growth, rising by 6.8% and 10.2%, respectively. This surge could partially explain
the greater decline in retained values of SUVs and LCV – utes relative to passenger
counterparts, leading sellers to keep their vehicles for shorter periods,” he said.
“There are some correlations to the new car market in terms of popularity of hybrid vehicles
with hybrids experiencing an increase in sales, while petrol, diesel and electric all
experienced a drop in sales,” Mr Voortman said.
“In comparison to July, the used EV market is now facing an oversupply, with sales seeing
the largest drop among all fuel types, down 8.3% to 1,637. This may result in more
competitive pricing, shaping buyer preferences as disposable incomes erode,” he said.
“Retained values continue to decline with every vehicle segment across every age category
experiencing a drop in value for the month,” he said.
Small vehicles and performance vehicles in the passenger segment continue to hold their
value the best, with the Toyota 86 replacing the Toyota Corolla for the top position at 98.4%
in the 2-4 year old category and the Toyota Yaris maintaining the lead at 94.8% in the 5-7
year old category. In the SUV category, the Suzuki Jimny continues to dominate, holding the
top spot in both the 2-4 (114.0%) and 5-7 year old (116.4%) SUV categories.
HIGHLIGHTS FROM THE AIR FOR AUGUST
- 206,804 vehicles were sold in August, a decrease of 3.6% compared to the previous month.
- Western Australia recorded the highest jump in supply of used cars, rising by 15.1% to 31, 015 whereas South Australia and the Northern Territory were the only two states where demand increased, by 0.3% and 1.8% respectively.
- 299,147 used cars were listed for sale in August, an increase of 4.9% from the previous month.
- Sales were weakest in ACT (-29.1%) and Northern Territory (- 37.4%), reflecting a significant drop in sales compared to last month.
- Average time to sell a used car is 42.7 days, the lowest it has been over the past 12 months.
- Retained values continue their gradual decline with passenger vehicles holding their value best in the 2-4 year age bracket (81.1%) as well as for the older 5-7 year category (67.3%).
- The Ford Ranger remains Australia’s best-selling used car, followed by the Toyota Hilux.
VFACTS August 2024
New car sale figures released by the Federal Chamber of Automotive Industries show a 10.6% decline in August to 98,328 sales compared to the same month last year. Year to date, sales are up by 5.3% on the same period in 2023.
Toyota topped new car sales, with the Toyota RAV4 being the best-selling car for the month of August, surpassing entire lineups of Hyundai and Mitsubishi brands. Hybrid and Plug-in hybrid vehicle sales observed significant growth and were up by 44.9% and 119.8% respectively, compared to the same month last year.
The AADA has assessed VFACTs Top 10 Makes & Models YTD, ranking them by volume. The AADA has also analysed new car sales figures by state for both the month of August and YTD, as well as fuel types and market segments.
AIR: Used Car Market Tightens as Sales Surge in July
The July edition of the Automotive Insight Report (AIR) indicates that the market for used cars is tightening, with rising sales and falling listings leading to a reduced gap between demand and supply.
The monthly used car market data put out by the AADA and Autograb shows a drop in listings of used cars by 5.8% to 285,133 while sales have observed a significant jump of 11.6% to 214,588.
The average days to sell have stayed relatively steady compared with last month at 43.6, yet this figure is still marginally lower than June and is the lowest in the past 12 months.
“With the commencement of the new financial year, buyers have flocked to the used car market taking advantage of better supply and lower prices as they make an effort to escape the rising cost-of-living pressures,” said AADA CEO James Voortman.
“All states except Tasmania have experienced a drop in used car listings, while Northern Territory is the only state where sales remain sluggish, with a notable decline of 15.6%. However, this reduction in supply should be considered in the context of a significant increase in supply since the start of the year,” he said.
“Demand for used cars has strengthened across all categories, with passenger vehicles showing the largest growth, rising by 13.1% to 88,686. Meanwhile, the supply of EVs saw the most significant decline (-16.1%), even as demand increased by 12.2%. This suggests that people are holding onto their EVs for longer, tightening the supply in the used EV market,” he said.
“One of the trends we have seem emerge from the start of the year in an increase in the proportion of cars being listed privately with a subsequent reduction in Dealer listings. Vehicles sold by Dealers have remained around the 40% mark suggesting they are pricing vehicles to sell,” said AutoGrab Chief Commercial Officer Saxon Odgers.
“Retained values continue to decline with every vehicle segment across every age category experiencing a drop in value for the month,” he said.
Small vehicles in the passenger segment have once again proven to hold their value the best, with the Toyota Corolla and Toyota Yaris maintaining their top spots at 97.6% in the 2-4 year old category and 96.7% in the 5-7 year old category, respectively. While the Suzuki Jimny continues its retained value reign, holding the top spot in both the 2-4 (115.6%) and 5-7 year old (115.8%) SUV category.
HIGHLIGHTS FROM THE AIR FOR JULY
- 214,588 vehicles were sold, an increase of 11.6% compared to the previous month.
- Tasmania was the only state to experience an increase in the supply of used cars, rising by 0.3%, while the Northern Territory was the only state to see a decline in demand, falling by 15.6%.
- 285,133 used cars were listed for sale in July, a drop of 5.8% from the previous month.
- Sales in Victoria rebounded to take the top position (14.1%), while ACT (+1.4%) and NT (-15.6%) were weakest in terms of sales.
- Average time to sell a used car is 43.6 days, the lowest it has been over the past 12 months.
- Retained values continue their gradual decline with passenger vehicles holding their value best in the 2-4 year age bracket (82.1%) as well as for the older 5-7 year category (68.1%).
- The Ford Ranger remains Australia’s best-selling used car, followed by the Toyota Hilux.
VFACTS July 2024
New car sale figures released by the Federal Chamber of Automotive Industries show a 2.7% increase in sales in July compared to the same month last year. Year to date, sales are up by 7.9% on the same period in 2023.
A total of 99,486 new cars were sold in July 2024. Hybrid vehicle sales have continued to increase as consumers shift their preferences to adjust to rising cost-of-living pressures and increasing fuel prices. In July, 18,039 new hybrid vehicles were sold, representing an 88.4% increase, plug in hybrid vehicles are also up 128.9% compared with July 2023.
The AADA has assessed VFACTs Top 10 Makes & Models YTD, ranking them by volume. The AADA has also analysed new car sales figures by state for both the month of June and YTD, as well as fuel types and market segments.
AIR: Used Car Listings Increase at the end of the Financial Year
The June edition of the Automotive Insights Report (AIR) shows a growing oversupply of used cars in Australia as the gap widens between cars listed for sale and cars sold at the end of the financial year.
The monthly used car market data put out by the AADA and AutoGrab shows that listings grew by 2.1% in June while sales remained largely flat increasing marginally by 0.3%.
The increase in supply has seen used vehicle values decrease across the board, with discounting leading to customers quickly snapping up bargains and average days to sell hitting a 12-month low.
“Buyers are benefitting from the fact that there are a greater variety of used vehicles available for sale at lower prices. Nevertheless, we have not seen a surge in sales relative to listings which may be a result of softer economic conditions as evidenced by the drop in new car sales in June,” said AADA CEO James Voortman.
“The outlier is the Western Australian market which saw an almost 13% drop in used car listings along with a healthy 6.1% increase in sales, meaning the supply situation in the West is tighter than the east coast,” said Mr Voortman.
“Light commercial vehicles, such as utes and vans have greater levels of oversupply than passenger vehicles and SUVs. Utes were the only segment which experienced a decline in sales in June, although they still made up three (Ranger, Hilux and Triton) of the four top selling used vehicles,” he said.
“The declining trend in retained values continues with every vehicle segment across every age category experiencing a reduction in value for the month,” he said.
Vehicles which hold their values best are now almost exclusively small vehicles in the passenger segment with the Toyota Corolla being the best performer in the 2-4 year old (99.8%) segment and the Toyota Yaris in 5-7 year old (99.0%) segment. In the SUV segment the Suzuki Jimny is the frontrunner, holding its value at an extraordinary 116.9% in the 2-4 year old category.
HIGHLIGHTS FROM THE AIR FOR JUNE
- 302,848 vehicles are listed for sale, an increase of 2.1% compared to the previous month.
- Listings experienced the highest increase in the ACT (12.5%), the Northern Territory (9.7%) and Queensland (7.5%). Western Australia was an outlier with a 12.9% reduction in listings.
- 192,266 used cars were sold in June, an increase of 0.3% from the previous month.
- Sales were strongest in the NT (12.4%) and weakest in Victoria (-4.6%).
- Average time to sell a used car is 43.8 days, the lowest it has been over the past 12 months.
- Retained values continue their gradual decline with passenger vehicles holding their value best in the 2-4 year age bracket (83.3%) as well as for the older 5-7 year category (69.1%).
- The Ford Ranger remains Australia’s best-selling used car, followed by the Toyota Hilux.
VFACTS June 2024
After steady growth in new car sales during the first half of the year, figures released by the FCAI reveal a 4.2% drop in sales for June compared to the same month last year. Year to date, sales are up by 8.7% on the same period in 2023.
A total of 119,659 new cars were sold in June. Hybrids, PHEVs, and electric vehicles observed growth, while petrol vehicles declined by 7.3% compared to 2023, reflecting shifting consumer preferences ahead of the New Vehicle Efficiency Standard (NVES).
The AADA has assessed VFACTs Top 10 Makes & Models YTD, ranking them by volume. The AADA has also analysed new car sales figures by state for both the month of June and YTD, as well as fuel types and market segments.
AIR: Used Car Market Activity Ramps Up Ahead of EOFY
The May edition of the Automotive Insights Report shows the number of used cars for sale in Australia continuing to grow, putting downward pressure on prices, which in turn is leading to an uptick in sales.
Used car listings sustained their growth of recent months increasing by 7.2% from the previous month while sales of used cars increased by 4.4%.
“Ongoing strength in the new car market means that we are seeing an increased supply of used vehicles coming to market, providing consumers with more options at more affordable price points,” said AADA CEO James Voortman.
“We expect this trend to continue, particularly in the next few months leading into the end of the financial year, which traditionally sees increased activity in both the new and used car market,” Mr Voortman said.
“Over the past month we have seen a marked reduction in used cars being listed by Dealers as more Australians seek to sell their cars privately. With the prevalence of online scams, odometer fraud and the lack of statutory protections when buying private, consumers need to exercise due diligence when engaging in a private-to-private used car transaction,” Mr Voortman said.
“We are also seeing strong sales results for lower emissions vehicles with Hybrids (+6.6%), EVs (+8.0%) and PHEVs (+16.6%) growing above average. EVs were the only fuel type to experience a reduction in supply, which is to be expected given the significant mismatch between demand and supply of used EVs,” he said.
“The average time to sell a used car has increased slightly to 45.5 days, a likely product of the improving supply situation which is also driving a reduction in retained values across all segments,” Mr Voortman added.
“Vehicles with the strongest retained values are largely sought after and reliable Japanese makes in both the passenger car and SUV segments as well as in the 2-4 year and 5-7 year categories,” he said.
“The Ford Ranger has built on its impressive lead as Australia’s top selling used vehicle and is close to breaching the 6,000 monthly sales mark. The Toyota Hilux comes in second well ahead of the rest of the pack which includes four utes in the top 10,” he said.
“With the end of the financial year nearly here, Australians are making major selling or purchasing decisions, which has led to the used car inventory approaching an oversupply. This is not an unexpected shift and has been met with increased demand and sales for used cars across every state in the country. The retained value of vehicles has continued to fall while the days to sell has increased, reflecting the oversupply of used vehicles,” said Saxon Odgers, Chief Commercial Officer of AutoGrab.
“It is also worth highlighting May’s increase in private inventory for sale, in comparison to April. This reflects past years, as we see an increase in vehicle transactions at the end of the financial year. We expect this to increase further in June and see great buying opportunities as a result,” said Mr.Odgers.
HIGHLIGHTS FROM THE AIR FOR MAY
- 296,542 vehicles are listed for sale, an increase of 7.2% compared to the previous month.
- Listings grew in every state and territory with South Australia experiencing the highest increase with 8.5% and Tasmania being the lowest at 2.0%%.
- 191,625 used cars were sold in May, an increase of 4.4% from the previous month.
- Sales grew in every state and territory with Queensland and the ACT experiencing the biggest monthly increase in sales of 7.3%.
- Petrol and Diesel vehicles dominate the used car market, but there has been strong growth in lower emissions vehicles, such as hybrids, EVs and PHEVs.
- Average time to sell a used car is 45.5 days, an increase of over a day from the previous month.
- Retained values continue their gradual decline with passenger vehicles holding their value best in the 2-4 year age bracket (84.1%) as well as for the older 5-7 year category (69.8%).
- The Ford Ranger remains Australia’s best-selling used car, followed by the Toyota Hilux.
VFACTS May 2024
New car sales figures released by the Federal Chamber of Automotive Industries reveal another month of strong sales, with buyers favouring hybrid vehicles over electric ones.
A total of 111,099 new vehicles were sold in Australia in May 2024, observing a 5.1% jump compared to same month last year. Year to date sales saw a 12.2% increase on the same period in 2023.
The AADA has assessed VFACTs Top 20 Brands & Models for May 2024, ranking them by volume.
Fresh AIR: Used Car Market Holds Steady for April
The Automotive Insights Report data for the month of April shows the market for used cars in Australia is stabilising with a steady decline in supply and demand holding firm.
“There were 183,575 used cars sold in April, representing a slight 0.3% decrease on the previous month while vehicles listed for sale reduced by 3.8%, highlighting a trend of declining listings since the end of 2023. It will be interesting to see if this trend persists given the record number of new cars being sold,” said AADA CEO James Voortman.
“The used market for hybrids and electric vehicles is booming and for the third consecutive month sales of hybrids (5.7% growth) EVs (9.5% growth) and PHEVs (2.7% growth) all outperformed the overall market.”
“There is still a significant oversupply of EVs relative to other fuel types, but the mismatch between demand and supply seems to be reducing with EV sales growing at the same time as EV listings decline,” he said.
“The average time to sell a used car has remained around the 44-day mark for the past three months, significantly down from the 12-month high of 52 days in November, indicating the market is stabilising.”
“Retained values continue to decline gradually across all segments with passenger vehicles holding up slightly better than SUVs and LCVs. Given the fact that the gap between used car supply and demand is reducing, it will be interesting to see what the effect will be on retained values and length of time to sell,” he said.
“The Ford Ranger is Australia’s undisputed favourite used car. Having topped the used car sales charts for the first three months of the year, the Ranger built on that dominance in April increasing its lead on its rivals with sales growing by an impressive 7.4%,” Mr Voortman said.
“The Hilux came in second on the sales charts, one of four Toyota models in the top ten, cementing the Japanese manufacturer’s status as the Australian market leader in both new and used car sales,” he said.
“While sales volumes underlines Australia’s love for utes, retained values show that the most in demand cars in the 2-4 year category were sports cars and smaller passenger cars while in the 4-7 year category small and large SUVs rule the roost,” said Mr Voortman.
Highlights from the AIR for April were:
- 276,719 vehicles are listed for sale, a decrease of 3.8% compared to the previous month.
- Listings were down in every state and territory, except for the ACT and South Australia which recorded minor increases.
- 183,575 used cars were sold in April, a minor decrease of 0.3% from the previous month.
- The NT and South Australia both outperformed in sales with increases over 6%. New South Wales saw the largest decline with a 4.3% reduction in sales.
- Sales of EVs grew for the third month in a row, this time by 9.5% while PHEVs grew by 2.7%.
- Hybrid sales also saw decent growth with an increase of 5.7% compared to March.
- Average time to sell a used car is 44.3 days, almost exactly the same as last month.
- Retained values continue their gradual decline with passenger vehicles holding their value best for vehicles in the 2-4 year age bracket (84.9%) while utes perform best for the older 5-7 year category (70.6%).
- The Ford Ranger remains Australia’s best-selling used car, the top 6 best selling cars remained the same in April as they were in March.