VFACTS: New Car Sales Insights August 2024

Read our monthly update on VFACTS new car sales results.

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• Weekly Market Update 16th December 2024December 16, 2024
• Weekly Market Update 9th December 2024December 9, 2024
• VFACTS: New Car Sales Insights November 2024December 5, 2024
• Monthly Truck & Equipment Update October 2024December 2, 2024

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New Car Sales

• August 2024 saw a total figure of 98,328 new car sales for Australia as reported by VFACTS.
• Figures show new car sales were down -11% in August 2024 versus August 2023.
• Sales between states were largely up with SA seeing a 8% increase compared to August 2023.
• PHEV sales skyrocketed in August 2024, seeing a cumulative increase of 136%.
• Petrol vehicles (-10%) sales decreased in August 2024.

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New Car Sales Trends

The top 5 models with the greatest increases so far in 2024 are:

• Toyota RAV4 (+18,460 units)
• Kia Cerato (+7,577 units)
• Ford Everest (+7,312 units)
• Toyota Camry (+7,178 units)
• Ford Ranger 4X4 (+6,543 units)

The bottom 5 models with the greatest decreases so far in 2024 are:

• Toyota Prado (-7,237 units)
• Tesla Model Y (-7,130 units)
• Hyundai i30 (-6,568 units)
• MG ZS (-5,424 units)
• Kia Rio (-3,943 units)

The top segment increases so far in 2024 compared to 2023 are:

• Medium < $60K (+130%)
• People Movers > $70K (+92%)
• Light > $30K (+49%)
• Sports > $80K (+33%)
• Vans/CC <= 2.5t (+31%)

Conversely, some of the largest decreases are:

• Upper Large < $100K (-100%)
• Large < $70K (-92%)
• Sports < $80K (-52%)
• Upper Large > $100K (-46%)
• SUV Large > $80K (-33%)

Please note that VFACTS has made some changes to the price groupings as shown in the table below:

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VFACTS Grouping 2024	VFACTS Grouping 2023
SUV Large < $80K	SUV Large < $70K
SUV Large > $80K	SUV Large > $70K

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Sales by Import Country

• Sales of imported vehicles from Japan continue to skyrocket with an increase of 39,449 units compared to 2023
• Sales of imported vehicles from Thailand have made a strong showing in August 2024 with an increase of 20,749 units compared to 2023
• Sales of imported vehicles from China seeing the largest decrease of 6,575 units compared to 2023
• Sales of imported European vehicles continue to see declines

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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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