Australians bought more cars last month than any July previously, suggesting Aussies on the hunt for a new vehicle might have the upper hand.
The Australian new car market had its best July on record, swimming against the tide of rising cost of living and economic uncertainty.
Tony Weber, head of the Federal Chamber of Automotive Industries, says the big sales result might be short lived, though.
“Many of these vehicles were ordered several months ago, so it is important to monitor the broader economic conditions through 2023 and their impact on private and business demand.”
These are the hot and not so hot car trends.
WINNERS
BUYERS
Wait times for some of the most popular cars are coming down.
Supply appears to be improving across the market with the industry continuing to recover from the Covid-19 induced supply shortage.
“During the past twelve months the issue has been one of securing supply for consumers, however as these pressures ease, we are starting to see a return to more stable market conditions,” Weber says.
This is good news for buyers as wait times continue to come down and there is even the chance of the odd deal to be done on less favoured models and brands.
TOYOTA
Australia’s favourite car brand has been doing it tougher than most during the past year.
July saw a return to the big brand’s dominance Down Under where it had five of the top selling vehicles in the country.
The Toyota HiLux remains the best selling vehicle for the year, but the Ford Ranger is nipping at its heels.
The Toyota HiLux is the best selling vehicle in Australia through the first seven months. Picture: Mark Bean
The RAV4 SUV, LandCruiser and Prado 4WDs and Corolla small car all had a better July last month than in 2022.
Toyota’s luxury brand Lexus more than doubled its sales this July compared to last and its up 85 per cent for the year to date.
Despite the strong month Toyota still has a long way to go to return to its previous glory as sales are down about 20 per cent this year compared to 2022.
ELECTRIC CARS
Sales of EVs continue to skyrocket. Australians bought almost 7000 EVs in July, which is about 10 times more than the same month last year.
Tesla dominates electric car sales. Photo: Mark Bean.
Electric car sales are up 385 per cent this year and are outselling hybrid vehicles.
Tesla’s 29,511 sales make up the bulk of the circa-50,000 registrations through the first seven months.
The Tesla Model Y was again one of the best selling vehicles in the nation with 3330 finding a new home.
Chinese brand BYD sold more than a 1000 of its Atto 3 electric cars. Hyundai, Kia, Mercedes-Benz and Polestar also chipped in with increased EV sales.
LOSERS
FRENCH BRANDS
Sales of Peugeot and Citroen vehicles slumped again.
Citroen sold 19 vehicles in July, a rise of three compared to 2022. It has sold just 135 vehicles for the year, which is down 28 per cent.
Citroen has sold only 135 cars this year.
Peugeot is up 11 per cent but had a down month in July, moving 15 per cent less cars.
Renault sales are also down 10 per cent for the year.
MITSUBISHI
Mitsubishi’s ageing range is starting to weigh on its sales.
Sales are down across nearly the entire range including core models such as the ASX small SUV and Triton ute.
The Mitsubishi Outlander is the star of the Japanese brand’s line-up. It is the best selling model and also its newest.
Help is on the way, though.
The new Triton should boost the maker’s sales next year.
This week the Japanese brand revealed its new Triton dual cab ute, which is due locally early next year.
It brings beefed up performance, rugged looks, boosted safety and tech as well as increased towing capacity.
SUZUKI
The budget brand appears to be on the nose with buyers as sales dropped 15 per cent in July and 20 per cent for the year.
The rising cost of living pressure could be hurting the usually budget-friendly maker’s results as potential shoppers tighten their belts.
Suzuki has also slugged its cars with some steep price rises in the past six months.
The Suzuki Swift is up 10 per cent and the Jimny small 4WD has jumped $1500 since March and is up $6000 since it launched a few years ago.
Keyword: There is finally some good news for new car buyers