When it comes time for a new car, most buyers will have a system or process to make their selection. It may be based on practicality, style, design, the latest tech and very often price. But with the moto vehicle market experiencing severe stock shortages and long wait times in the past few years, the usual selection process may need to adapt. Buyers may need a bit of inspiration and that can be found in the monthly top selling cars data.
This data is released by the Federal Chamber of Automotive Industries (FCAI) and reveals the top selling cars for the month across multiple categories and the top brands. The data is for new cars which were delivered in that month. A word of caution. Many of the sales have reported been to buyers which have been on wait lists. The figures may also reflect a shipment arrival. So just because a certain make or model sold a lot of units last month does not necessarily mean buyers can walk into a dealership and drive away with their new car. But, the data is great to review and may give buyers ideas of what other models to consider.
The data for February was recently released and the Ford Ranger beat the Toyota HiLux to top spot with the Model 3 Tesla number 3 top seller for the month. EV sales are also seen as continuing to increase.
While reviewing the top selling cars data, buyers can consider cheaper car loans through Jade Finance and use the finance calculator for repayment estimates. Ticket price is one thing. Securing better rates for cheaper motor vehicle finance can be the real clincher.
FCAI February Report
In the February car sales report, the FCAI reveals an 1.8% increase in sales compared with February of last year. Tony Weber, the Chief Executive for the Chamber, said this was pleasing outcome, considering the supply constraints both locally and globally.
According to Mr Weber, the increase in sales of battery electric vehicles which now represents 6.8% of total sales for February, proves that when a product is available that suits the needs, the habits and the finance, buyers will purchase battery EV vehicles. The demand has been so strong that 13.9% of the monthly total sales is made up of zero and low emissions vehicles.
In the February statement, the FCAI also includes information on the country of origin in relation to sales figures. Not all buyers will be aware of in which country their vehicle was manufactured. Manufacturers have factories in different countries to manufacture their range of models. Japan is still the leading country of origin for Australian car sales. Thailand is second for the February data, China the third and fourth is Korea.
In trends, the sales of passenger cars was below the January figure while light commercial vehicles and SUVs posted modest rises on the January figures.
Top Selling Cars by Brand and Model
The FCAI reports the top 10 best selling brands and overall models as well as the top 3 in specific categories.
The top selling motor vehicle brand in Australia continues to be Toyota. The brand still managed to outsell the others in the market despite posting a 31.4% decrease when comparing sales for YOY (year on year). Mazda also posted a slight fall on a YOY basis but still ranked number two best selling brand. Ford was the big mover. Increasing sales 30.6% on a YOY comparison and finishing third for the month.
Fourth place went to Kia, then came Hyundai and Mitsubishi. Making up the rest of the top 10 were MG, then Subaru, followed by Tesla and Isuzu coming in at 10th.
In the model stakes it was Ford’s Ranger first then HiLux and Tesla Model 3. Next was the CX5 from Mazda and then Mitsubishi’s Outlander. Positions 6 to 10 comprised Toyota RAV4, MG ZS, Isuzu D-MAX, Subaru Forester and the MG3.
That should provide good inspiration for buyers to start thinking about. So now inspiration for cheaper car finance.
Top Selling Cars with Cheaper Finance
The RBA has just announced its tenth increase to interest rates in a row and that will impact the motor vehicle finance sector over time and with variations. These ongoing rate rises can represent a significant increase to new car loans and further magnifies the significance of getting the cheapest rates and a fixed rate.
By using our broker services, buyers can quickly and efficiently access over 60 car finance lenders and land the cheapest loan offer suited to their application. No need to wait on hold to speak to numerous banks and finance companies for quotes to compare. Just the one call to us and the job will be done.
We provide finance for both personal car loans and business vehicle finance with a complete portfolio of consumer and commercial loan products. Business owners are once again reminded of the expiration date for temporary full expensing – 30 June. Vehicles need to be purchased and in the business by that date to meet the criteria as set out by the ATO. With some delivery delays persisting, especially with recent issues on the dock, this may influence the choice of vehicle.
Further inspo for car buyers will be provided as we reveal more winners of the Car of the Year awards and individual top sellers in different categories in coming news posts.
To secure cheaper motor vehicle finance for top selling cars contact Jade Finance 1300 000 008
DISCLAIMER: NO LIABILITY IS ACCEPTED IF ERRORS OR MISREPRESENTATIONS ARE FOUND IN THIS ARTICLE. THE ARTICLE IS PREPARED AND PRESENTED FOR GENERAL INFORMATIVE PURPOSES AND IS NOT INTENDED TO BE THE SOLE SOURCE OF INFORMATION FOR MAKING FINANCIAL DECISIONS. THOSE REQUIRING GUIDANCE AND ADVICE SHOULD CONSULT A FINANCIAL ADVISOR.