Read our monthly update on VFACTS new car sales results.
- Weekly Market Update 22nd April 2024
- Weekly Market Update 15th April 2024
- Weekly Market Update 8th April 2024
- VFACTS: New Car Sales Insights March 2024
New Car Sales
- January 2024 saw a total figure of 89,782 new car sales for Australia as reported by VFACTS.
- Figures show new car sales were up +6% in January 2024 versus January 2023.
- Sales between states were largely up with WA seeing a 25% increase compared to January 2023.
- PHEV vehicle sales skyrocketed in January 2024, seeing a cumulative increase of 124%.
- Petrol vehicles (-6%) sales decreased in January 2024.
New Car Sales Trends
The top 5 models with the greatest increases so far in 2023 are:
- Toyota Camry (+820 units)
- Subaru Crosstrek (+810 units)
- Toyota Corolla (+773 units)
- Hyundai Kona (+747 units)
- Kia Cerato (+714 units)
The bottom 5 models with the greatest decreases so far in 2023 are:
- Tesla Model 3 (-2,204 units)
- Mazda CX-3 (-893 units)
- Subaru XV (-792 units)
- MG HS (-544 units)
- Kia Rio (-499 units)
The top segment increases so far in 2023 compared to 2022 are:
- Vans/CC <= 2.5t (+182%)
- Medium < $60K (+169%)
- People Movers > $70K (+71%)
- SUV Upper Large < $120K (+65%)
- Light > $30K (+63%)
Conversely, some of the largest decreases are:
- Large < $70K (-90%)
- Upper Large > $100K (-77%)
- Medium > $60K (-60%)
- Light Buses => 20 Seats (-55%)
- Micro (-38%)
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 4,686 units compared to 2023
- Sales of imported vehicles from China have made a strong showing in January 2024 with an increase of 416 units compared to 2023
- Sales of imported vehicles from Spain seeing the largest decrease of 542 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.
Disclaimer: This is a general information service only and we do not provide advice or take into account your personal circumstances, financial situation or needs. Please seek professional advice with regards to how any of the material on this website can impact your own financial situation. Datium Insights is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this website.
VFACTS: New Car Sales Insights February 2024
