Australian Vehicles Market in October 2023 grows for the 7th month in a row, with new sales at 103,413 (+23.1%). YTD figures at 972,605 are up 12.1% from the prior year. Tesla surges 8 spots in the rankings (+164.2%).
Market Trend and Outlook
The Australian Vehicles Market in October 2023 grows for the 7th month in a row after a loss in March. New monthly sales reach 103,413 (+23.1%). YTD figures at 972,605 are up 12.1% compared to the previous year.
Looking at cumulative data up to October 2023 brand-wise, Toyota reports the most sales at 174,957 (-10.1%), followed by Mazda at 84,536 (+6.1%), Ford -up 3 spots- at 69,809 (+31.0%) and Kia at 64,770 sales (-2.7%).
Hyundai maintains 5th position with 63,578 sales (+0.3%), in front of Mitsubishi at 52,109 (-21.6%) and MG with 48,909 registrations (+25.8%).
Tesla jumps 8 spots into 8th with 39,985 sales (+164.2%), followed by Subaru at 38,666 (+36.8%) and Isuzu in 10th with 36,501 new registrations (+21.6%).
Looking at specific models the Toyota Hilux is the best selling car, despite falling 8.4% in sales. The Ford Ranger follows in second with a 30.6% growth 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 the momentum from the last 6 months of 2022 continues, with the first months of the year maintaining the uptrend. Despite starting off on the right foot, the Australian vehicles market in 2023 will have to confront a few issues that put negative pressure on sales: the disruption in the global supply chain due to a lack of raw materials and the Governments push towards Evs will continue into 2023.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Groups, and top 10 Models.
