Read our monthly update on VFACTS new car sales results.
- Monthly Truck & Equipment Update September 2024
- Weekly Market Update 4th November 2024
- Weekly Market Update 28th October 2024
- Weekly Market Update 21st October 2024
New Car Sales
- February 2024 saw a total figure of 105,023 new car sales for Australia as reported by VFACTS.
- Figures show new car sales were up +21% in February 2024 versus February 2023.
- Sales between states were largely up with WA seeing a 20% increase compared to February 2023.
- PHEV vehicle sales skyrocketed in February 2024, seeing a cumulative increase of 126%.
- Petrol vehicles (-1%) sales decreased in February 2024.
New Car Sales Trends
The top 5 models with the greatest increases so far in 2024 are:
- Subaru Crosstrek (+2,064 units)
- Toyota Corolla (+2,054 units)
- Toyota Camry (+1,980 units)
- Nissan X-Trail (+1,828 units)
- Toyota Hilux 4X4 (+1,444 units)
The bottom 5 models with the greatest decreases so far in 2024 are:
- Mazda CX-5 (-1,427 units)
- Tesla Model 3 (-1,282 units)
- Subaru XV (-1,160 units)
- MG MG3 (-1,059 units)
- Kia Carnival (-1,050 units)
The top segment increases so far in 2024 compared to 2023 are:
- Medium < $60K (+200%)
- Vans/CC <= 2.5t (+119%)
- Light > $30K (+82%)
- People Movers > $70K (+82%)
- SUV Upper Large < $120K (+82%)
Conversely, some of the largest decreases are:
- Large < $70K (-90%)
- Light Buses => 20 Seats (-69%)
- Upper Large > $100K (-61%)
- People Movers < $70K (-47%)
- Light < $30K (-41%)
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 12,357 units compared to 2023
- Sales of imported vehicles from China have made a strong showing in February 2024 with an increase of 4,734 units compared to 2023
- Sales of imported vehicles from Spain seeing the largest decrease of 996 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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