Read our monthly update on global car production, new car sales in key markets, export levels and imports into Australia.
- Weekly Market Update 4th December 2023
- Weekly Market Update 27th November 2023
- Protected: Weekly Market Update 20th November 2023
- Weekly Market Update 13th November 2023
Global Car Production
- Toyota to cut global production by 40%
- Virtually every carmaker, from Ferrari to Ford, has been hit by chip shortages
- Data revealed by the Electric Vehicle Council shows Tesla outselling rivals by two to one
- Australia on verge of electric cars boom
- Globally, production is beginning to pick up pace in major manufacturing bases
- Japan is down 13% through May 2021
- South Korea is down 7% through July 2021
- The US is down 23% through July 2021
- Germany is down 20% through June 2021
- The UK is down 21% through June 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 look to be picking up pace in several markets around the world
- Our data that looks at a 12 month rolling change illustrates this
- In North America, the US is up 2.1% while Mexico is down 16.3% through July 2021. Canada is now up 1.2% through June 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 12.1% and 15.3% through July 2021
- Japan is down 2.8% while South Korea is down 11%.
Car Imports into Australia
- Car Imports were up in June 2021, recording a figure of $4.244 billion according to latest ABS figures
- This represents an increase of $2.612 billion (+60%) compared to June 2020
- The rolling 12 month change shows imports are now up $8.4 billion in June 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 3% through June 2021
- The United Kingdom is up 2% through June 2021
- Germany is up 4% through June 2021
- The United States is down 15% through May 2021
Indications from August figures suggest car production and export levels are picking up pace to return back to pre-COVID levels.
Despite the challenges facing the industry, including chip shortages and shipping delays, demand is proving strong worldwide spurring manufacturers to ramp up production.
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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