The strong performance of the Australian new car market has continued into 2024 with record January sales of 89,782 new vehicles, 5.8% more than January 2023 and breaking the previous January record of 88,551 set in 2018.
Toyota was the market leader with recorded sales of 17,903, followed by Mazda (8165), Ford (6624), Hyundai (6162) and Mitsubishi (5911).
The Ford Ranger was Australia’s top-selling vehicle with sales of 4747 units, followed by the Toyota Hilux (4092), Toyota Landcruiser (2541), Isuzu Ute D-Max (2541) and Toyota RAV4 (2211).
Federal Chamber of Automotive Industries (FCAI) chief executive Tony Weber, said 2023’s demand for new vehicles has continued into 2024 with many businesses and families taking ownership of a new vehicle in January, but there were concerns for the outlook of 2024 given the current economic conditions.
The record January result was underpinned by continued customer preference for SUVs and Light Commercial vehicles. SUVs accounted for 55.5% of sales while Light Commercials were 22.9%. Passenger vehicles made up 18.3% of sales.
Low-emission vehicles remained popular, with hybrids, plug-in hybrid and battery electric vehicles making up 17.4% of sales, while battery electric vehicles represented 5.4%.
“The continuing preference for SUVs and Utes demonstrates the challenges the Commonwealth Government is facing as it works to introduce a New Vehicle Emissions Standard (NVES),” Weber says.
“Industry wants an emissions standard that is ambitious without limiting the choice and increasing the cost of the vehicles Australians need and want.
“Even with the current incentives offered by the Commonwealth and State and Territory Governments, sales of battery electric vehicles appear to have plateaued during recent months.
“For more than a year the industry has been sharing information with the Government about what is happening in the suburbs and regions around the country and the preferences and challenges facing families and businesses,” Weber says.
“Good policy must reflect reality rather than a desktop exercise that makes assumptions about what the world can look like, and we strongly urge the Government to share its modelling with us.”
The January 2024 market of 89,782 new vehicle sales is an increase of 4,909 vehicle sales or 5.8% against January 2023 (84,873). There were 25 selling days in January 2024 compared to 24 in January 2023 and this increased 54.9 vehicle sales per day.
The Passenger Vehicle Market is down by 168 vehicle sales (-1.0%) over the same month last year; the Sports Utility Market is up by 3,132 vehicle sales (6.7%); the Light Commercial Market is up by 2,055 vehicle sales (11.1%) and the Heavy Commercial Vehicle Market is down by 110 vehicle sales (-3.6%) versus January 2023.
Sales in Western Australia increased by 25.4% compared with January 2023. Queensland was up 5.4%; South Australia by 3.7%; Victoria by 6.3% and NSW by 1.2%. Northern Territory recorded an increase of 11.6% while sales in the ACT decreased by 7.5% compared with January 2023. Tasmania also recorded a decrease of 1.1%.
