Read our monthly update on VFACTS new car sales results.
- VFACTS: New Car Sales Insights November 2024
- Monthly Truck & Equipment Update October 2024
- Weekly Market Update 2nd December 2024
- Weekly Market Update 25th November 2024
New Car Sales
- May 2024 saw a total figure of 111,099 new car sales for Australia as reported by VFACTS.
- Figures show new car sales were up +5% in May 2024 versus May 2023.
- Sales between states were largely up with VIC seeing a 17% increase compared to May 2023.
- Hybrid vehicle sales skyrocketed in May 2024, seeing a cumulative increase of 132%.
- Petrol vehicles (-5%) sales decreased in May 2024.
New Car Sales Trends
The top 5 models with the greatest increases so far in 2024 are:
- Toyota RAV4 (+10,833 units)
- Ford Ranger 4X4 (+6,053 units)
- Toyota Camry (+6,025 units)
- Toyota Corolla (+5,444 units)
- Ford Everest (+4,553 units)
The bottom 5 models with the greatest decreases so far in 2024 are:
- Hyundai i30 (-2,988 units)
- Mazda CX-9 (-2,456 units)
- Kia Rio (-2,414 units)
- MG HS (-2,403 units)
- MG MG3 (-2,190 units)
The top segment increases so far in 2024 compared to 2023 are:
- Medium < $60K (+195%)
- People Movers > $70K (+94%)
- Light > $30K (+74%)
- Sports > $200K (+48%)
- SUV Upper Large < $120K (+46%)
Conversely, some of the largest decreases are:
- Large < $70K (-92%)
- Sports < $80K (-52%)
- Upper Large > $100K (-41%)
- Light < $30K (-34%)
- People Movers < $70K (-29%)
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 34,287 units compared to 2023
- Sales of imported vehicles from Thailand have made a strong showing in May 2024 with an increase of 18,106 units compared to 2023
- Sales of imported vehicles from Spain seeing the largest decrease of 3,427 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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