Although the number of car sales in 2024 is still high, this growth is not going smoothly. After peaking in 2022, demand began to ease in the second half of 2024.
After starting the year very strongly and setting record sales, the market then experienced a fairly significant slowdown.
Despite this, total sales of new vehicles managed to reach 1.2 million units, confirming the renewed participation in the Australian automotive market. However, behind these record numbers, there are quite complex challenges.
Rising costs of living and interest rates that are squeezing consumers' purchasing power are major factors behind this slowdown.
This is evident from the fairly sharp decline in private car sales.
Most Selling Cars The
Dominance of SUVs and utes in the Australian car market is increasingly unwavering in 2024, with both controlling more than 80% of sales.
Consumers are also increasingly aware of the importance of fuel efficiency, driving increased demand for hybrid and plug-in hybrid vehicles.
Competition in the SUV segment is getting fiercer.
The Ford Ranger is best-selling new car for the second year running followed by Toyota RAV4.
Toyota RAV4 the second best selling car 2024 Credit: Photo by Gino Marcelo Hernandez Sanchez on Unsplash
Ford also showed a strong resurgence by placing second overall, marking the brand's return to the top lineup after a decades-long hiatus.
Mazda, which previously dominated for nine years, had to settle for third place.
Hybrid cars continue to grow Electric vehicle sales
growth in Australia is starting to slow, despite increased consumer interest.
EV sales only account for less than 8% of the total market, while hybrid vehicles, especially PHEVs, are showing very significant growth.
This indicates that consumers still prefer hybrid options that provide greater flexibility.
Experts predict that there may be a price war among electric vehicles. Source: SBS / SBS News
2025 Sales
Projected new car sales in 2025 are expected to reach 1.15 million units, down from the previous year's record.
Although consumer demand has recovered, rising living costs have the potential to hamper market growth at the start of the year.
The government is expected to encourage sales of environmentally friendly cars through incentive policies to stimulate demand.
With the growing number of new brands and models, especially from China, competition in the automotive market is intensifying. This has the potential to depress prices for Australian consumers.
Ironically, according to Tony Weber, automakers are facing challenges as a result of declining consumer interest.
But it will ultimately benefit consumers because of more competitive prices.
Top 10 selling brands for 2024
1 Toyota - 241,296
2 Ford - 100,170
3 Mazda - 95,987
4 Kia - 81,787
5 Mitsubishi - 75,547
6 Hyundai - 71,664
7 MG - 50,592
8 Isuzu Ute - 48,172
9 Nissan - 45,284
10 GWM - 42,782
Top 10 selling cars for 2024
1 Ford Ranger - 62,593
2 Toyota RAV4 - 58,718
3 Toyota Hilux - 53,499
4 Isuzu D-Max - 30,194
5 Mitsubishi Outlander - 27,613
6 Ford Everest - 26,494
7 Toyota Corolla - 24,027
8 Mazda CX-5 - 22,835
9 MG ZS - 22,629
10 Kia Sportage - 22,210
Source: VFACTS, Federal Chamber of Automotive Industries
