Car Sales – The strength in the new vehicle market has continued with a new July record of 99,486 sales. This result is 2.7 per cent higher than the July 2023 result which was the previous highest July on record.
“This is a remarkable achievement in an economy featuring widespread cost of living pressures. It was also interesting to note that while sales in the Business and Government segments were up 13.7 per cent and 37.5 per cent respectively, Private sales were down 4.2 per cent.”
Mr Weber added there were several important points coming from the July result.
Hybrid sales booming
“Consistent with trends in many overseas markets. Sales of hybrid vehicles are up 88.4 per cent and plug-in hybrid vehicles are up 128.9 per cent compared with July 2023. Sales of battery electric vehicles – with the inclusion of the reported Tesla (2592) and Polestar (103) results. Are currently at 6.6 per cent of the market, down from 7.0 per cent in 2023.
“The hybrid performance is highlighted by the fact that the Toyota RAV 4 was the top-selling vehicle for the month. Ahead of Ford Ranger and Toyota HiLux. Most RAV 4 sales are hybrids.
“While the first seven months of 2024 have exceeded expectations. The industry remains cautious about the future pending the implementation of the New Vehicle Efficiency Standard coupled with the economic conditions,” Mr Weber said.
Toyota was the market leader with sales of 22,705 in July, followed by Mazda (8,476), Ford (7,749,) Kia (6,620) and Hyundai (6,021).
The Toyota RAV4 was Australia’s top selling vehicle with sales of 5,933 in July followed by Ford Ranger (4,915), Toyota HiLux (4,747), Toyota Corolla (2,688) and Toyota Landcruiser (2,464).
Car Sales by State
Sales in the
- Australian Capital Territory were down 1.4 per cent on July 2023 to 1,418;
- New South Wales was up 2.9 per cent to 30,361;
- Northern Territory was up 4.9 per cent to 947;
- Queensland increased 6.2 per cent to 20,937;
- South Australia increased 4.7 per cent to 6,921;
- Tasmania had a decrease of 12.0 per cent to 1,564;
- Victoria decreased 1.6 per cent to 26,667 and
- Western Australia increased 8.9 per cent to 10,671.
Key Points:
- The July 2024 market of 99,486 shows an increase in new vehicle sales of 2,629 (2.7%) compared to July 2023 (96,859). There were 27 selling days in July 2024 compared to 26 in July 2023. This resulted in a decrease of 40.7 vehicle sales per day in July 2024.
- Passenger Vehicle Market is up by 135 vehicle sales (0.8%) over the same month last year.
- Sports Utility Market is down by 413 vehicle sales (-0.7%);
- Light Commercial Market is up by 2,463 vehicle sales (12.8%) and the
- Heavy Commercial Vehicle Market is up by 442 vehicle sales (12.8%) versus July 2023.
- Toyota was market leader in July, followed by Ford and Mazda. Toyota led Ford with a margin of 14,229 vehicle sales and 14.3 market share points.