Read our monthly update on VFACTS new car sales results.
- Weekly Market Update 27th November 2023
- Protected: Weekly Market Update 20th November 2023
- VFACTS: New Car Sales Insights October 2023
- Weekly Market Update 13th November 2023
New Car Sales
- March 2023 saw a total figure of 97,251 new car sales for Australia as reported by VFACTS.
- Figures show new car sales were down -4% in March 2023 versus March 2022.
- Sales between states were largely up with ACT seeing an 8% increase compared to March 2022.
- Electric vehicle sales continue to skyrocket in March 2023, seeing a cumulative increase of 158% so far this year compared to last – although much of this is down to newly introduced sales of Tesla vehicles.
- Hybrid vehicles (-22%) and Diesel vehicles (-7%) sales decreased in March 2023.
New Car Sales Trends
The top 5 models with the greatest increases so far in 2023 are:
- Tesla Model Y (+3,169 units)
- Ford Ranger 4X4 (+2,984 units)
- Tesla Model 3 (+2,821 units)
- Hyundai Tucson (+2,571 units)
- Kia Sorento (+2,260 units)
The bottom 5 models with the greatest decreases so far in 2023 are:
- Mitsubishi Triton 4X4 (-5,944 units)
- Toyota RAV4 (-4,638 units)
- Toyota Prado (-4,354 units)
- Mazda CX-30 (-2,557 units)
- Kia Cerato (-2,487 units)
The top segment increases so far in 2023 compared to 2022 are:
- Small > $40K (+162%)
- Light Buses => 20 Seats (+96%)
- Medium > $60K (+53%)
- Sports <$80K (+47%)
- People Movers < $70K (+38%)
- SUV Large > $70K (+38%)
Conversely, some of the largest decreases are:
- Upper Large < $100K (-100%)
- Vans/CC <= 2.5t (-68%)
- Light Buses < 20 Seats (-55%)
- Medium < $60K (-46%)
- Small <$40K (-37%)
Please note that VFACTS has made some changes to the price groupings as shown in the table below:
|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|
Sales by Import Country
- Sales of imported vehicles from China continue to skyrocket with an increase of 17,075 units compared to 2022
- Sales of imported vehicles from Germany have made a strong showing in March 2023 with an increase of 2,373 units compared to 2022
- Sales of imported vehicles from Japan seeing the largest decrease of 17,338 units compared to 2022
- 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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