Read our monthly update on VFACTS new car sales results.
- Weekly Market Update 29th April 2024
- Weekly Market Update 22nd April 2024
- Weekly Market Update 15th April 2024
- Weekly Market Update 8th April 2024
New Car Sales
- March 2024 saw a total figure of 109,647 new car sales for Australia as reported by VFACTS.
- Figures show new car sales were up +13% in March 2024 versus March 2023.
- Sales between states were largely up with VIC seeing a 20% increase compared to March 2023.
- PHEV vehicle sales skyrocketed in March 2024, seeing a cumulative increase of 134%.
- Petrol vehicles (-2%) sales decreased in March 2024.
New Car Sales Trends
The top 5 models with the greatest increases so far in 2023 are:
- Toyota RAV4 (+4,273 units)
- Tesla Model Y (+3,666 units)
- Toyota Camry (+3,122 units)
- Subaru Crosstrek (+3,113 units)
- Toyota Corolla (+3,085 units)
The bottom 5 models with the greatest decreases so far in 2023 are:
- Toyota Hilux 4X2 (-1,682 units)
- MG MG3 (-1,508 units)
- Kia Rio (-1,439 units)
- Mazda CX-9 (-1,392 units)
- MG HS (-1,391 units)
The top segment increases so far in 2023 compared to 2022 are:
- Medium < $60K (+183%)
- People Movers > $70K (+92%)
- Light > $30K (+86%)
- Vans/CC <= 2.5t (+78%)
- Sports > $200K (+77%)
Conversely, some of the largest decreases are:
- Large < $70K (-90%)
- Light Buses => 20 Seats (-65%)
- Upper Large > $100K (-47%)
- Sports < $80K (-45%)
- People Movers < $70K (-42%)
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 20,407 units compared to 2023
- Sales of imported vehicles from China have made a strong showing in March 2024 with an increase of 7,263 units compared to 2023
- Sales of imported vehicles from Spain seeing the largest decrease of 1,960 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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