The Australian used car market experienced another month of decline in December 2024, according to data compiled by AutoGrab and published by the Australian Automotive Dealer Association (AADA). This trend highlights ongoing challenges in the second-hand vehicle market.
- Total used vehicles sold in December: 181,724 (8.1% decrease from November)
- Active listings: 322,532 (3.8% drop from November)
- Average days to sell: 48.7 (up from 47 days in November)
- Year-over-year comparison: 7.3% increase in sales from December 2023
Factors Influencing the Market
- Oversupply of new vehicles affecting retained values
- Industrial action at ports potentially impacting new vehicle availability
- Reduced resale values across most vehicle segments and age categories
Top-Selling Used Models
- Ford Ranger: 4,992 sales
- Toyota HiLux: 3,643 sales
- Toyota Corolla: 3,072 sales
Electric Vehicle Sales
- MG 4 leads used EV sales with 289 units sold in December
- Tesla Model 3 follows with 235 sales
- Overall EV sales showed a 3.3% decrease from November
The continued slump in used car sales reflects a shifting automotive landscape in Australia. While the market shows growth compared to the previous year, the month-on-month decline and increasing average selling time suggest challenges ahead.
As new vehicle supply stabilizes and economic factors evolve, the used car market may face further adjustments in 2025. Buyers and sellers alike will need to navigate these changing conditions carefully in the coming months.
