The Australian new car market experienced a significant downturn in September 2024, with overall sales dropping 9.7% compared to the same period last year. However, amidst this decline, hybrid and plug-in hybrid electric vehicles (PHEVs) showed strong growth, indicating a shift in consumer preferences towards more fuel-efficient options.
Overall Market Performance:
- Total new vehicle sales: 99,881 (down 9.7% year-on-year)
- This marks the second consecutive month of decline
Alternative Fuel Vehicle Sales:
- Hybrid sales: Up 34.4%
- PHEV sales: Up 89.9%
- EV sales: Down 27.2% (largely due to a slump in Tesla sales)
Top-Selling Brands:
- Toyota: 18,110 sales (down 13.4%)
- Ford: 8,303 sales (up 3.6%)
- Mazda: 8,201 sales (up 2.1%)
Best-Selling Models:
- Toyota RAV4: 5,182 sales
- Ford Ranger: 4,485 sales
- Toyota HiLux: 4,313 sales
Market Trends:
- SUVs and utes continue to dominate, comprising 9 out of the top 10 selling vehicles
- Passenger car segment shrunk to less than 15% of the market
Economic Factors:
- FCAI Chief Executive Tony Weber attributes the sales decline to the current economic climate affecting purchasing intentions
While the overall new car market in Australia faces challenges, the significant growth in hybrid and PHEV sales suggests a growing consumer interest in more fuel-efficient and environmentally friendly vehicles. This trend aligns with global shifts towards lower-emission transportation options.
