The Australian new-car market is showing signs of a slowdown, with September 2024 sales figures revealing a significant drop compared to the same period last year. This decline is particularly noticeable in the performance of two market leaders, the Toyota HiLux and Ford Ranger.
Overall Market Performance:
- 97,020 new vehicles sold in September 2024
- 12.4% decrease compared to September 2023
- Year-to-date sales still strong, surpassing 900,000 vehicles for the first time in three quarters
Top Sellers' Performance:
- Toyota HiLux: 4,313 sales (down 25.3% from September 2023)
- Ford Ranger: 4,485 sales (down 17.4% from September 2023)
- Toyota RAV4: 5,182 sales (up 85.2% from September 2023), becoming the best-selling vehicle for the second consecutive month
Brand Performance:
- Toyota remains the market leader with 18,110 sales in September, despite a 15% drop from last year
- Ford secured second place with 8,303 sales (up 3.6%)
- Mazda came third with 8,201 sales (up 2.1%)
Electric Vehicle Sales:
- EV sales reported at 3,561 units, down 59.6% from September 2023
- However, this figure excludes Tesla and Polestar data, which significantly impacts the overall EV market representation
Market Analysis:
- Federal Chamber of Automotive Industries (FCAI) Chief Executive Tony Weber attributes the slowdown to the current economic climate
- Hybrid and PHEV sales have increased, while diesel and petrol vehicle sales have declined
While the Australian new-car market has shown resilience with record year-to-date sales, the September figures indicate a potential shift in consumer behavior. The decline in sales of popular models like the Toyota HiLux and Ford Ranger, coupled with economic factors, suggests a challenging period ahead for the automotive industry.
