Australian Vehicles Market is off to a solid start in 2024. In March sales reached 106,371 units (+13.6%). Market leader Toyota, owning 19.0% of the market, continues to grow fast (+37.4%).
Market Trend and Outlook
The positive trend observed at the start of the year continues through March, which marked the 14th monthly growth with 106,371 new registrations (+13.6%). YTD sales up to 296,115 (+13.9%).
Looking at cumulative data up to March 2024, brand-wise Toyota reports the most sales at 56,238 (+37.4%), followed by Mazda at 23,761 (-6.1%), Ford at 22,675 (+18.5%) and Mitsubishi – up 2 spots- at 20,188 sales (+21.3%).
Kia loses 1 spot ranking in 5th position with 18,918 sales (+2.8%), in front of Hyundai -down 1 spot- at 17,850 (+7.0%) and Nissan -up 5 spots-with 14,293 registrations (+69.6%).
Isuzu gains 2 spots and ranks in 8th with 12,801 sales (+23.5%), followed by Tesla at 12,789 (+22.9%) and MG -down 3 spots- in 10th with 12,429 new registrations (+0.4%).
Looking at specific models the Ford Ranger is the best-selling car (+14.8%). The Toyota Hilux is in second with a 1.3% loss in year-on-year registrations.
Medium-Term Market Trend
In the past decade the Australian vehicle market has remained relatively stable. In 2010 and 2011 sales remained around 950k registrations. While in 2012 with a 12.6% growth light vehicle sales rose above 1 million and stayed above this mark until the arrival of the pandemic. During these 8 years sales didn’t fluctuate much reaching a maximum of 1.17 million in 2016 an a minimum in 2019 at 1.04 million sales.
With the arrival of Covid-19 in 2020 the Australian vehicle market took a 15.1% hit moving sales down to 880k registrations.
This drop, enhanced by the closing down of manufacturing plants and distributors ,didn’t last long. In fact, in 2021 sales jumped back above the 1 million mark with a y/y growth of 14.9%. 2022 maintained the momentum and grew another 1.5% in volume.
In 2023 vehicles sales grew up again at 1.18 million sales, a 12.7% growth from the previous year.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Groups, and top 10 Models.
