The latest car sales results for the year end 2024 have been released. The overall result has seen a slight increase on last year, but the underlying figures tell a different story.
2024 has been a year of two halves. The first half the sales were booming. Many brands no longer faced supply issues, and pent-up demand was being satisfied.
The second half saw sales drop dramatically.
Some brands benefited by the increased demand for hybrids, especially Toyota, but also newer brands such as GWM. Others saw increases in sales because of the looming draconian NVES rules that came into effect 1st January. This particularly applies to out favourite dual cab diesel Utes.
Some brands experienced a natural decline in model sales before releasing a new model. Some brands simply had a bad year.
2025 will see a few existing brands fade away and the growth of new brands, mainly from China. There will be a lot of EVs coming, but the word for 2025 is Hybrids.
So, that means more brands in a dwindling market. Brands are facing challenges in a market that doesn’t want them, and are increasing prices for their popular SUVs and trucks. Its going to be interesting.
This is a Motoring Minute
Im Rob Fraser
Readers can find more details about the Hybrids and PHEVs– HERE
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