VFACTS: June 2024
Strong Growth in Australian New Vehicle Sales in the First Half of 2024
The first half of 2024 has been marked by robust growth in new vehicle sales in Australia. With a total of 632,412 vehicles sold, representing an 8.7% increase from the same period last year, these results broke the sales record set in 2018.
Despite this overall growth, June 2024 saw the end of a 14-month growth streak, experiencing a 4.2% decline in sales compared to June 2023. However, June still recorded a substantial 119,659 deliveries, the highest month in sales this calendar year, underscoring the continued demand for new vehicles in the market.
FCAI Chief Executive Tony Weber said,
“The end of the financial year has traditionally been a strong month for vehicle sales and achieving 632,412 sales in just six months is a testament to the resilience of the market.”
SUVs and Light Commercial Vehicles dominated, making up 54.5% and 23.3% of monthly sales, respectively.
Sales by State
- Australian Capital Territory were the same as June 2023 (1,856)
- New South Wales declined by 2.1 per cent (36,246)
- Queensland declined by 6.3 per cent (26,265)
- South Australia declined by 0.5 per cent (7,932)
- Victoria declined by 4.7 per cent (32,356)
- Western Australia declined by 7.6 per cent (12,079)
- Tasmania declined by 1.4 per cent (1,897)
- Northern Territory declined by 5.3 per cent (1,028).
Top Brands
Toyota continues to dominate the automotive market, with 20,903 new cars sold in June 2024. Although this represents a slight year-on-year decline of 0.2%, Toyota’s year-to-date sales have surged by an impressive 31.5%.
Ford secured the second spot with 9,493 units sold, marking a 22.4% increase compared to the previous year. Mazda closely trailed with 9,483 vehicles sold, though this was a 2.3% decrease year-on-year. Kia’s sales rose by 8.9% selling 8,225 units, and Mitsubishi saw a remarkable 48.9% increase, selling 7,723 new vehicles in June.
Sales by Models
- Ford Ranger: 6,289 sold, up 28.5 per cent
- Toyota HiLux: 5,630 sold, up 16.9 per cent
- Toyota RAV4: 3,907 sold, up 36.7 per cent
- Mitsubishi Outlander: 3,045 sold, up 87.5 per cent
- Tesla Model Y: 2,906, down 47.7 per cent
EV Sales
In a significant shift within the automotive market, hybrid and plug-in hybrid vehicles have seen their market share soar to 14.4% as of June 2024, a substantial increase from 7.8% in June 2023. Year-to-date, the sales of these vehicles have surged by an impressive 114.6%, with Toyota leading the market.
Mr Weber highlighted the urgent need for government support to expand EV charging infrastructure to meet the growing demand for electric vehicles (EVs). Year-to-date sales of Battery Electric Vehicles (BEVs) have reached 50,219 units.
“We hope to break the significant milestone of 100,000 EV sales in 2024,” Mr. Weber stated.
Despite this progress, electric vehicles accounted for 8.0% of new vehicle sales in June, a slight decline from 8.8% in June 2023. The Tesla Model Y was the only electric vehicle to make it into the top ten bestsellers, although its sales dropped by 48% compared to June 2023.