VFACTS: New Car Sales Insights October 2022

Read our monthly update on VFACTS new car sales results.

New Car Sales October 2022

  • October 2022 saw a total figure of 87,299 new car sales for Australia as reported by VFACTS
  • Figures show new car sales were up +17% in October 2022 versus October 2021
  • Sales between states were largely down with WA seeing a 4% decline compared to October 2021
  • Electric vehicle sales continue to skyrocket in October 2022, seeing a cumulative increase of 492% so far this year compared to last – although much of this is down to newly introduced sales of Tesla vehicles
  • Conversely, petrol vehicles continued their sales decline (-7%)

New Car Sales Trends

The top 5 models with the greatest increases so far in 2022 are:

  • Kia Sportage (+9,069 units)
  • Tesla Model 3 (+8,680 units)
  • Mitsubishi Triton 4X4 (+7,325 units)
  • Tesla Model Y (+6,452 units)
  • Toyota Hilux 4X4 (+5,820 units)

The bottom 5 models with the greatest decreases so far in 2022 are:

  • Toyota Corolla (-5,684 units)
  • Nissan Qashqai (-5,669 units)
  • Nissan X-Trail (-5,100 units)
  • Mazda3 (-4,785 units)
  • Kia Cerato (-4,625 units)

The top segment increases so far in 2022 compared to 2021 are:

  • Medium > $60K (+89%) (driven by newly introduced Tesla sales)
  • Large < $70K (+46%)
  • SUV Medium > $60K (+33%)
  • Light Buses => 20 Seats (+18%)
  • SUV Medium < $60K (+14%)

Conversely, some of the largest decreases are:

  • Upper Large < $100K (-48%)
  • Large > $70K (-27%)
  • Micro (-26%)
  • Small < $40K (-23%)
  • Medium < $60K (-22%)

Sales by Import Country

  • Sales of imported vehicles from China continue to skyrocket with an increase of 31,744 compared to 2021
  • Sales of imported vehicles from Korea have made a strong showing in October 2022 with an increase of 14,346 compared to 2021
  • Sales of imported vehicles from Japan seeing the largest decrease of 26,538 units compared to 2021
  • Sales of imported European vehicles continue to see declines

Datium InstantVal - Accurate Valuations. Delivered Fast.

Tanim LinkedIn
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.

Disclaimer: This is a general information service only and we do not provide advice or take into account your personal circumstances, financial situation or needs. Please seek professional advice with regards to how any of the material on this website can impact your own financial situation. Datium Insights is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this website.

Leave a comment

Your email address will not be published. Required fields are marked *

Datium Insights

Subscribe to Datium Insights

Receive notifications when we release market updates and feature articles on the automotive industry