There were 98,328 new vehicle sales in Australia in August 2024 making it the second-best August result on record, however the number represents a 10.6% decline on the previous August. Year to date sales are up 5.3% versus 2023. Toyota was market leader in August, followed by Ford and Mazda. Toyota led Ford with a margin of 12,600 vehicle sales and 12.9 market share points.
“We are committed to making the experience of buying a car more efficient and more secure. In addition to the nearly 100,000 new car sales in August, the AutoSettle platform can be used for the 200,000 or so used car transactions per month.
The automotive industry is undergoing a period of significant transformation, driven by factors such as electrification and changing consumer preferences. Our strategy is focused on highlighting how innovations in fintech can simplify the vehicle purchasing process, offering a more transparent and convenient journey from start to finish. We are positioning AutoSettle as the trusted choice for all automotive transactions.”
Darren Pollard – AutoSettle COO
The numbers come from a report by the Federal Chamber of Automotive Industries (FCAI). The CEO provided his insights into the figures.
“Once again, the new car market is showing signs of resilience as cost-of-living pressures and interest rates continue to impact the economy. Consumer preferences for the types of vehicles they want to drive is demonstrated with the Passenger segment representing only 15.4 per cent of the total market. The SUV segment represented 57.5 per cent and Light Commercial vehicles made up 22.9 per cent making these two segments more than 80 per cent of the total market.
“Consumers continue to embrace low emission vehicles with hybrid sales up 44.9 per cent in August 2023 while sales of plug-in hybrid vehicles are up 119.8 per cent. However, in line with the experience in many global markets, sales of battery electric vehicles are disappointing. This is despite the supply of battery electric vehicles increasing significantly with more brands and EV models having entered the Australian market”
Tony Weber FCAI Chief Executive
New Car Sales for August 2024
Toyota was the market leader with sales of 21,490 in August, followed by Ford (8,890), Mazda (8,263), Kia (6,903) and Hyundai (6,211).
The Toyota RAV4 was Australia’s top selling vehicle with sales of 6,712 in August followed by Ford Ranger (5,431), Toyota HiLux (4,496), Isuzu Ute D-Max (2,548) and Toyota Landcruiser (2,504).
Hybrid and Plug-in hybrid vehicle sales increased by 44.9% and 119.8% respectively, compared to the same month last year.
New Car Sales YTD for 2024
Manufacturer analysis – Toyota continues to hold a significant market share, occupying the top spot with almost 20% of total sales. Ford and Mazda Close Behind: Ford and Mazda follow closely behind Toyota, each capturing around 8% of the market.
Make analysis – The Ford Ranger continues to hold the top spot in the Australian market with 43,877 units sold year to date.
Toyota has three models in the top five which contribute to the 19% market share. The RAV4 has sold 38,050 YTD and the Toyota Hilux 37,758.