VFACTS: New car sales rebound but stock shortages play havoc

Ford Ranger, COG Aggregation

Toyota HiLux and Ford Ranger continued to top the new car sales charts in March 2021 as sales continued to rebound for the fifth month in a row.

Market demand is evident but severe car stock shortages have restricted the number of orders placed. Dealers are reporting that numbers could have been higher if stock was more readily available. The stock shortages are mainly due to a global parts shortage, namely computer chips, contained in most modern petrol or diesel cars. A recent fire in a Japanese semiconductor factory has escalated shortages and it could take 3 – 6 months to replenish supply.

VFACTs March 2021

According to the Federal Chamber of Automotive Industries (FCAI), March is historically the second-biggest month for new-car sales, after June. It was reported that 100,005 new cars were sold across Australia last month – a 22.4 per cent increase compared to the same month last year, when the pandemic began.

Most cars reported as sold in March, were from orders placed months ago and were delivered in March as they arrived. Advice is for people to place their car orders as soon as possible. The longer they delay, the longer delivery will take.

Again, Toyota dominated the market by setting a new March sales record with 21,319 new cars sold, an increase of 21.2 per cent. Toyota was followed by Mazda at 10,785 (up 58.2 per cent) and Hyundai at 6,852 (up 29.1 per cent).

Here are the front runners in new car sales in March 2021:

The Top 10 Cars

Toyota HiLux (5,319)

Ford Ranger (3,983)

Toyota RAV4 (3,522)

Mazda CX-5 (3,022)

Toyota Corolla (2,892)

Hyundai i30 (2,514)

Mitsubishi Trion (2,492)

Toyota LandCruiser (2,244)

Isuzu D-Max (1,994)

Nissan X-Trail (1,932)

Our Car Buying Service has an extensive network of dealerships nationally, with access to big fleet discounts. The team can help your customers navigate stock shortages and place orders early to avoid longer wait times.

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 or to be introduced to our Car Buying team.