Read our monthly update on VFACTS new car sales results.
- Weekly Market Update 4th December 2023
- Weekly Market Update 27th November 2023
- Protected: Weekly Market Update 20th November 2023
- VFACTS: New Car Sales Insights October 2023
New Car Sales
- May 2023 saw a total figure of 105,694 new car sales for Australia as reported by VFACTS.
- Figures show new car sales were up +12% in May 2023 versus May 2022.
- Sales between states were largely up with WA seeing a 11% increase compared to May 2022.
- Electric vehicle sales continue to skyrocket in May 2023, seeing a cumulative increase of 275% so far this year compared to last – although much of this is down to newly introduced sales of Tesla vehicles.
- Hybrid vehicles (-16%) and Diesel vehicles (-8%) sales decreased in May 2023.
New Car Sales Trends
The top 5 models with the greatest increases so far in 2023 are:
- Tesla Model Y (+8,442 units)
- Tesla Model 3 (+5,636 units)
- BYD Atto 3 (+4,664 units)
- Hyundai Tucson (+3,567 units)
- Ford Ranger 4X4 (+2,987 units)
The bottom 5 models with the greatest decreases so far in 2023 are:
- Mitsubishi Triton 4X4 (-7,924 units)
- Toyota RAV4 (-7,122 units)
- Toyota Prado (-5,983 units)
- Toyota Corolla (-5,046 units)
- Kia Cerato (-3,662 units)
The top segment increases so far in 2023 compared to 2022 are:
- Small > $40K (+143%)
- Sports <$80K (+84%)
- Medium > $60K (+71%)
- SUV Medium > $60K (+65%)
- Light Buses => 20 Seats (+62%)
Conversely, some of the largest decreases are:
- Upper Large < $100K (-100%)
- Vans/CC <= 2.5t (-53%)
- Small <$40K (-34%)
- Light Buses < 20 Seats (-32%)
- Medium < $60K (-26%)
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 31,966 units compared to 2022
- Sales of imported vehicles from Germany have made a strong showing in May 2023 with an increase of 4,785 units compared to 2022
- Sales of imported vehicles from Japan seeing the largest decrease of 21,896 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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