Read our monthly update on global car production, new car sales in key markets, export levels and imports into Australia.
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Global Car Production
- British car factories produced the fewest cars for any July since 1956
- Chip shortage drags on as plant closures hit carmakers
- Does the world need so many cars?
- Victoria’s electric vehicle tax faces high court challenge
- Global electric vehicle sales surge in 2021
- Globally, production is facing issues in major manufacturing bases as chip shortages force a decline in output
- Japan is down 10% through June 2021
- South Korea is down 8% through July 2021
- The US is down 25% through August 2021
- Germany is down 23% through August 2021
- The UK is down 24% through July 2021
- China is up 6% through July 2021
New Car Sales
- A year on from the onset of the COVID-19 pandemic, new car sales have largely recovered in most markets around the world
- Our data that looks at a 12 month rolling change illustrates this
- In North America, the US is up 11.5% while Mexico is down 6.9% through August 2021. Canada is now up 11.8% through July 2021
- In Europe, Germany is now up 4.9% through June 2021
- The UK is now up 14.5% and seeing strong growth as travel restrictions look to be eased
- Spain is also up 7.6% and looks to be on the recovery after COVID outbreaks slowed sales earlier in the year
- France and Italy are now up 7.5% and 19.6% respectively through June 2021
- In the Asia Pacific region, Australia and New Zealand are both up 17.3% and 14.1% through August 2021
- Japan is up 6.8% in August 2021 while South Korea is down 3.2% through July 2021.
Car Imports into Australia
- Car Imports were down in July 2021, recording a figure of $3.828 billion according to latest ABS figures
- This represents an increase of $1.403 billion (+58%) compared to July 2020
- The rolling 12 month change shows imports are now up $10.6 billion in July 2021
- Stock supply entering Australia is picking up pace after months of significant volatility
International Car Exports
The latest government figures show the following 12 month rolling changes in car export volume from the large car manufacturing nations:
- South Korea is up 8% through July 2021
- Japan is up 9% through July 2021
- The United Kingdom is up 6% through July 2021
- Germany is up 4% through August 2021
- The United States is down 13% through June 2021
Indications from August figures suggest car production and export levels around the world are facing obstacles due to chip shortages.
Despite these challenges demand is proving strong worldwide spurring strong new car sales results combined with increasing demand in used cars as well.
Imports into Australia have largely recovered from COVID, however the majority of sales currently are being diverted to private buyers.
With strong demand from businesses and corporations to re-stock their fleets, new car sales in Australia are likely to be strong over the coming year.
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.
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Monthly Truck & Equipment Update August 2021
