VFACTS: New Car Sales Insights January 2022

Read our monthly update on VFACTS new car sales results.

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

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Tanim Ahmed

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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