VFACTS: New Car Sales Insights May 2024

Read our monthly update on VFACTS new car sales results.

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 2023 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 2023 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 2023 compared to 2022 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 2024VFACTS Grouping 2023
SUV Large < $80KSUV Large < $70K
SUV Large > $80KSUV 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

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Tanim Ahmed

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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