Published on November 9th 2020 in

“Green shoots” in the most recent new vehicle sales figures

The Federal Chamber of Automotive Industries (FCAI) has reported new vehicle sales figures for October 2020, with total sales for the month at 81,220, down just 1,236 units or 1.5 per cent from October 2019 when 82,456 vehicles were sold.

Tony Weber, chief executive of the FCAI, said the results were welcome news for the automotive industry. “After a very challenging year, we are seeing ‘green shoots’ in the Australian new vehicle market. Every state and territory except Victoria and Tasmania have seen significant growth and, given the circumstances, Victoria’s result is seen as encouraging.”

Year to date figures reflected the difficult times the industry has experienced during 2019 and 2020.  For the period from January to October 2020, new vehicle sales totalled 726,111, representing a decrease of 18.8% when compared to the same period in 2019.

“These results mark the 31st month of decreasing sales for the industry, which has experienced a series of financial and market challenges during the period. However, the green shoots that we are seeing in October give us great hope that we may begin to see further recovery during the coming months,” added Weber.

He went on to say that nationally, the state of industry operations is returning to normal as COVID-19 restrictions ease. Additionally, government initiatives such as a constructive budget that included the instant asset write off, along with more accessible finance for consumers, is also acting as a welcome stimulus for the industry.

In October, 17,794 Passenger Vehicle were sold, representing 21.9% of the total market, down 24.5% from October 2019, whereas SUVs claimed 50.8% of the market with a total of 41,220 sales, up 6.7% from October 2019. Light Commercial vehicles claimed 23.6% of the market, up 11.6% to 19,152.

Toyota was the top selling brand for the month, with 19,505 sales, followed by Mazda with 7,457 sales, Hyundai with 5,951 sales, Ford with 5,744 sales and Kia with 5,304 sales.
The top five selling models for the month were the Toyota Hi Lux with 4,444 sales, the Ford Ranger with 4,217 sales, the Toyota RAV4 with 4,084 sales, the Toyota Landcruiser with 2,429 sales and the Toyota Prado with 2,207 sales.

“Electrified vehicles also experienced a surge during the month, more than doubling in their total sales compared to October 2019.  This shows that Australian consumers are willing to explore new drive train technologies,” concluded Weber.

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