VFACTS: New Car Sales Insights December 2023

Read our monthly update on VFACTS new car sales results.

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• Weekly Market Update 22nd April 2024April 22, 2024
• Weekly Market Update 15th April 2024April 15, 2024
• Weekly Market Update 8th April 2024April 8, 2024
• VFACTS: New Car Sales Insights March 2024April 4, 2024

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New Car Sales

• December 2023 saw a total figure of 98,544 new car sales for Australia as reported by VFACTS.
• Figures show new car sales were up +12% in December 2023 versus December 2022.
• Sales between states were largely up with WA seeing a 18% increase compared to December 2022.
• Electric vehicle sales continue to skyrocket in December 2023, seeing a cumulative increase of 161% so far this year compared to last – although much of this is down to newly introduced sales of Tesla vehicles.
• Diesel vehicles (+5%) sales increased in December 2023.

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New Car Sales Trends

The top 5 models with the greatest increases so far in 2023 are:

• Tesla Model Y (+20,052 units)
• Ford Ranger 4X4 (+15,133 units)
• Subaru Crosstrek (+8,991 units)
• BYD Atto 3 (+8,929 units)
• MG ZS (+6,792 units)

The bottom 5 models with the greatest decreases so far in 2023 are:

• Mitsubishi Triton 4X4 (-10,221 units)
• Subaru XV (-7,648 units)
• Kia Cerato (-6,559 units)
• Suzuki Baleno (-5,856 units)
• Toyota Corolla (-5,298 units)

The top segment increases so far in 2023 compared to 2022 are:

• Small > $40K (+160%)
• SUV Medium > $60K (+69%)
• SUV Large > $70K (+51%)
• Sports <$80K (+44%)
• Large > $70K (+41%)

Conversely, some of the largest decreases are:

• Upper Large < $100K (-91%)
• Large < $70K (-27%)
• Small < $40K (-22%)
• Light < $30K (-15%)
• Vans/CC <= 2.5t (-12%)
• Vans/CC 2.5-3.5t (-12%)

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

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VFACTS Grouping 2023	VFACTS Grouping 2022
Light < $30K	Light < $25K
Light > $30K	Light > $25K
People Movers < $70K	People Movers < $60K
People Movers > $70K	People Movers > $60K
SUV Small < $45K	SUV Small < $40K
SUV Small > $45K	SUV Small > $40K
SUV Upper Large < $120K	SUV Upper Large < $100K
SUV Upper Large > $120K	SUV Upper Large > $100K

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Sales by Import Country

• Sales of imported vehicles from China continue to skyrocket with an increase of 70,588 units compared to 2022
• Sales of imported vehicles from Thailand have made a strong showing in December 2023 with an increase of 17,645 units compared to 2022
• Sales of imported vehicles from India seeing the largest decrease of 5,674 units compared to 2022
• 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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