You can feel it in the air again – the feeling of consumer confidence. Brokers are reporting an increase in enquiries from customers who are feeling more confident to make substantial purchases like houses, cars, boats and caravans. This was also evident in the release of the January New Car Sales results by the Federal Chamber of Automotive Industries (FCAI).
Official new-car sales figures for January 2021 show 79,666 vehicles were reported as sold, an increase of 11.1 per cent compared to the same month last year – and the best January since 2012 prior to the pandemic.
“It is positive to see the third month in a row of growth in new car sales, but we have to bear in mind that much of this reflects pent-up demand and orders placed in the preceding months,” said the chief executive officer of the Australian Automotive Dealers Association (AADA). “The industry is growing off a very low base after a period of falling sales which lasted for 31 months.”
January’s result was underpinned by solid growth in SUV and ute sales, and was reflected in the performance of a most leading brands including dominant market leader Toyota, which racked up 16,819 sales (+13.6%).
Light commercial vehicles recorded a 24.6 per cent sales increase last month, followed by SUVs on 24.6 per cent and heavy commercial vehicles on 13.2 per cent, as passenger cars fell 9.3 per cent.
Here are the front runners in new car sales in January 2021:
The Top 10 Cars
Toyota HiLux (3,913)
Ford Ranger (3,120)
Toyota RAV4 (3,066)
Toyota LandCruiser (2,388)
Mazda CX-5 (2,081)
Toyota Corolla (2062)
Hyundai i30 (1952)
Mitsubishi Triton (1908)
Isuzu D-Max (1822)
Nissan X-Trail (1593)
Kia Cerato (1545)
Dealers are still predicting stock shortages due to a rise in demand and restrictions in production, so encourage your customers organise their finance pre-approval and to get their orders in early to avoid disappointment. Our Car Buying service is here to help.
There are competitive rates for consumer and business vehicle finance at the moment, so speak to our Broker Support Team today about your next loan scenario.