Read our monthly update on VFACTS new car sales results.
- VFACTS: New Car Sales Insights October 2024
- Weekly Market Update 11th November 2024
- Monthly Truck & Equipment Update September 2024
- Weekly Market Update 4th November 2024
New Car Sales
- October 2024 saw a total figure of 98,375 new car sales for Australia as reported by VFACTS.
- Figures show new car sales were down -9% in October 2024 versus October 2023.
- Sales between states were largely up with WA seeing a 6% increase compared to October 2023.
- PHEV sales skyrocketed in October 2024, seeing a cumulative increase of 110%.
- Petrol vehicles (-10%) sales and Electric vehicles (-8%) decreased in October 2024.
New Car Sales Trends
The top 5 models with the greatest increases so far in 2024 are:
- Toyota RAV4 (+23,087 units)
- Kia Cerato (+9,404 units)
- Ford Everest (+9,095 units)
- Toyota Camry (+6,559 units)
- Hyundai Kona (+6,296 units)
The bottom 5 models with the greatest decreases so far in 2024 are:
- Tesla Model Y (-11,751 units)
- Toyota Prado (-11,620 units)
- Hyundai i30 (-7,477 units)
- MG ZS (-7,021 units)
- Tesla Model 3 (-5,118 units)
The top segment increases so far in 2024 compared to 2023 are:
- Medium < $60K (+98%)
- People Movers > $70K (+88%)
- Light > $30K (+58%)
- Light Buses < 20 Seats (+32%)
- Sports > $80K (+30%)
Conversely, some of the largest decreases are:
- Upper Large < $100K (-100%)
- Large < $70K (-91%)
- Upper Large > $100K (-47%)
- Sports < $80K (-45%)
- Medium > $60K (-31%)
Please note that VFACTS has made some changes to the price groupings as shown in the table below:
| VFACTS Grouping 2024 | VFACTS Grouping 2023 |
| SUV Large < $80K | SUV Large < $70K |
| SUV Large > $80K | SUV Large > $70K |
Sales by Import Country
- Sales of imported vehicles from Japan continue to skyrocket with an increase of 30,849 units compared to 2023
- Sales of imported vehicles from Thailand have made a strong showing in October 2024 with an increase of 17,694 units compared to 2023
- Sales of imported vehicles from China seeing the largest decrease of 12,753 units compared to 2023
- Sales of imported European vehicles continue to see declines
By Tanim Ahmed, Head of Product at Datium Insights
Tanim is a Macquarie University alumni with degrees in Finance and Economics. He has spent a decade in the Leasing and Finance industry, specializing in Residual Value risk.
Please contact Datium Insights for further analytical support and advisory services.
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