Australia recorded 97,020 new vehicle sales in September 2024, marking a significant milestone as the industry surpassed 900,000 sales by the end of the third quarter for the first time. However, this figure represents a 12.4 percent decrease compared to the same month in 2023.
FCAI Chief Executive Tony Weber noted that while the overall sales up to September were strong, the decline from last year reflects the current economic challenges. “During the early part of the year, we witnessed record numbers,” Weber stated. “However, the September result shows that the state of the economy is impacting purchasing intentions.”
With one quarter remaining in the sales year, Weber highlighted three clear trends emerging in consumer preferences:
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SUVs and Utes Dominate: Approximately 80 percent of new car buyers are opting for SUVs and utes. Notably, nine of the top ten vehicles sold in September were from the Medium or Large SUV and Light Commercial segments, with passenger vehicles comprising less than 15 percent of the market.
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Shift Towards Lower Emissions: There is a growing willingness among consumers to consider lower-emission vehicles, as evidenced by the continued increase in sales of hybrid and plug-in hybrid models.
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Disappointment in Electric Vehicle Sales: Despite a strong supply of electric vehicles (EVs) and the introduction of new brands and models in Australia, sales of battery electric vehicles were again disappointing. Weber noted that EVs are predominantly found in limited market segments, such as Passenger Medium and Small and Medium SUVs. This trend aligns with global patterns, as production and purchase incentives for EVs are being reduced.
Toyota led the market in September with sales of 18,110 vehicles, followed by Ford (8,303), Mazda (8,201), Kia (7,650), and Mitsubishi (6,130). The Toyota RAV4 regained the top sales, with 5,182 sales, trailed by the Ford Ranger (4,485), Toyota HiLux (4,313), Ford Everest (2,902), and Isuzu Ute D-Max (2,612).
Sales figures varied across the states and territories, with the Australian Capital Territory seeing a significant drop of 23.1 percent to 1,388 sales. New South Wales experienced a decline of 16.8 percent to 29,943, while Queensland and South Australia saw decreases of 8.3 percent and 3.8 percent, respectively. In contrast, the Northern Territory recorded a 5.6 percent increase to 910 sales.