New car sales results YTD March 2024

Car sales – Australia is experiencing a mini car sales boom, not because of new orders but more filling existing orders that backlogged over the last few years.

For the YTD ending March 24  there have been around 304,000 cars delivered. Almost 110,000 of those in March. These are both new records.

The movement to SUVs continues with about 59% of sales with passenger cars about dropping to 16.1%. LCV are some 21% and heavy vehicles making up the rest.

Petrol remains the most popular fuel source YTD with about 45% of sales, followed by diesel with about 30.5%. Hybrids and PHEV account for about 13% of sales and EVs are running at about 8%.

The top selling model in March was the Ford ranger followed by the Toyota RAV 4.

Toyota continues as the number one brand, followed by Mazda, Ford, Mitsubishi and Kia. The next top five brands are Hyundai, Nissan, Isuzu, Tesla, and MG.

Even though there are buoyant times currently it will be interesting to see how the year pans out as I believe we are in a recession and new orders will slow dramatically.

This is a Motoring Minute

I’m Rob Fraser

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Key Points:

• The March 2024 market of 109,647 new vehicle sales is an increase of 12,396 vehicle sales or 12.7% against March 2023 (97,251). There were 24.5 selling days in March 2024 compared to 26.5 in March 2023. Resulting in an increase of 805.5 vehicle sales per day.
• The Passenger Vehicle Market is up by 429 vehicle sales (2.5%) over the same month last year; the Sports Utility Market is up by 11,105 vehicle sales
  (20.7%); the Light Commercial Market is up by 1,049 vehicle sales (4.8%) and the Heavy Commercial Vehicle Market is down by 187 vehicle sales (-4.1%) versus
  March 2023.
• Toyota was market leader in March, followed by Ford and Mazda. Toyota led Ford with a margin of 10,185 vehicle sales and 9.3 market share points.

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