Read our monthly update on VFACTS new car sales results.
- Weekly Market Update 15th April 2024
- Weekly Market Update 8th April 2024
- Weekly Market Update 1st April 2024
- Weekly Market Update 25th March 2024
New Car Sales January 2022
- 2022 has started off slow, with January seeing 75,863 new car sales for Australia as reported by VFACTS
- This is down 5% versus January 2021
- Our ‘Rolling 12 Month Change’ tracker signals a downward trend in sales – the last 12 months has recorded 2% less sales compared to the pre-COVID benchmark year 2019
- Electric vehicle sales rocketed in January 2022, seeing an increase of 109%, with PHEV sales also soaring (+94%)
- Petrol vehicle sales declined significantly (-12%)
- All states except Tasmania recorded lower sales compared to January 2021 with NT (-13%), NSW (-10%) and ACT (-10%) leading declines
New Car Sales Trends
The top 5 models with the greatest increases so far in 2022 are:
- Toyota Prado (+1,207 units)
- Mazda CX-5 (+1,132 units)
- Mitsubishi Triton 4X4 (+881 units)
- MG MG3 (+692 units)
- GWM Haval Jolion (+524 units)
The bottom 5 models with the greatest decreases so far in 2022 are:
- Toyota RAV4 (-1,641 units)
- Toyota Landcruiser Wagon (-769 units)
- Nissan Qashqai (-722 units)
- Nissan X-Trail (-693 units)
- Toyota Corolla (-620 units)
The top segment increases so far in 2022 compared to 2021 are:
- Light Buses < 20 Seats (+68%)
- Upper Large > $100K (+59%)
- Micro (+31%)
- Medium < $60K (+19%)
- SUV Medium > $60K (+19%)
Conversely, some of the largest decreases are:
- Vans/CC <= 2.5t (-59%)
- Upper Large < $100K (-55%)
- Light > $25K (-52%)
- SUV Upper Large < $100K (-51%)
- Small > $40K (-45%)
Some other highlights so far:
- After a strong showing in 2021, Toyota has seen sales decline with the Toyota RAV4, Toyota Landcruiser Wagon and Toyota Corolla seeing a reduction in sales compared to this time last year
- With supply chain disruptions, Japanese manufacturers are facing headwinds in delivering volume onshore
- Chinese brands MG and GWM continue strong sales growth, with the MG3 and Haval Jolion models contributing to a positive start
- Passenger vehicles have gone backwards in January 2022 (-15%), with Small (-29%) and Large (-34%) segments seeing significant dropoffs
- The rental market continues to see strong growth, up 12% compared to January 2021
- With Business sales declining (-12%), Private sales now make up 56% of all sales in the market due to dealers gaining higher margins on these types of sales
Sales by Import Country
- Sales of imported vehicles from China continue to skyrocket in 2022 with an increase of 2,066 compared to 2021
- Sales of imported vehicles from Japan saw the largest decline so far, down 1,747 units largely owing to Toyota
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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VFACTS: New Car Sales Insights February 2022
