Move over Ranger and HiLux, there’s a new best-selling vehicle in the mix. The July car sales figures as released by the Federal Chamber of Automotive Industries (FCAI) reveal the Toyota RAV 4 as the top selling vehicle for July 2024. Recording a 115% increase on the sales figures for July last year and reversing the situation seen a few years back when wait lists for this popular SUV were long. According to the figures, 6,000 new owners drove out of Toyota dealerships in a new RAV 4 last month.
While the RAV 4 result is a stand-out in the monthly data, the FCAI Chief Executive Tony Weber reports that the monthly total new vehicle sales was also impressive. July 2024 set a new record for a July, despite Polestar and Tesla sales not included due to their withdrawal from reporting data to VFACTS.
What other vehicles have new vehicle buyers been driving away in recently? We cover off on the latest monthly car sales with best-selling vehicles and brands to provide inspiration for buyers and finance options for private and business buyers.
Car Sales Market Trends
Mr Weber outlined the trends which have come out of the latest figures. Noting a significant uplift in sales of hybrid vehicles (128.9% increase) and a slight drop in battery vehicle sales, when compared with the sales for July 2023. Despite the year to date recording great results, Mr Weber said the sector was cautious with the New Vehicle Efficiency Standard coming in soon and cost-of-living pressures impacting the economy.
Breaking down the figures by market segments reveals a fall of 4.2% in private sales and a 13.7% rise in sales to business buyers. Passenger vehicle sales have lifted in comparison with July last year. SUVs had been outselling passenger cars, so these figures may indicate a resurgence in the passenger style cars.
Top Selling Models and Brands for July
Looking at the overall sales for the month, a few clear trends emerge – buyers are gravitating to hybrids and specifically to the Toyota brand. Toyota has long dominated the Australian new vehicle sales markets, offering a wide selection of vehicles to suit a vast range of buyers. That continued with the brand having 4 of its models in the leading 10 top sellers and significantly out-selling Mazda, the second-best selling brand.
While best-selling individual models and figures are reported by the FCAI on a monthly basis, the Chamber reports the top selling brands on sales for the year-to-date (YTD) – the calendar year not the financial year.
The ten best-selling new vehicle brands for YTD are Toyota then Ford which has sold marginally more than Mazda. Kia is in fourth then Mitsubishi and Hyundai. The popular Isuzu Ute made the ten as did the very well-price MG brand, then Nissan and finally Tesla.
The 10 top selling individual models are issued on a monthly basis for that month. As noted, the RAV 4 took out the number one spot in the list of best-sellers for July. This versatile and very popular SUV out-sold Ford’s Ranger by 1,000 vehicles and it’s stable-mate, the HiLux, by around 1,200 vehicles. Fourth and fifth top selling spots were also filled by Toyotas – the Corolla and the iconic LandCruiser.
The final five in July’s top ten were Isuzu’s D-MAX, the Everest from Ford, Mitsubishi Outlander, the stylish Mazda CX-5 and the affordable ZS from MG. Plenty of options for business and private buyers to consider, if the finance is affordable!
Secure Competitive Rates on Toyota RAV 4 Finance
Jade Finance secures competitive interest rates and workable terms for both personal and business finance on the top-selling Toyota RAV 4. Loans are individually sourced and tailored to suit the buyer and to make all variants of this popular SUV an affordable purchase for all buyers.
Getting behind the wheel of a new RAV 4 will cost buyers roughly between $50,000 and $70,000 plus dealer and on road expenses. This is based on current advertised pricing. Different fuel systems, model variants and options attract different prices. But the same loan products and competitive interest rates.
Our Secured Car Loan will suit most private buyers, with the RAV 4 used as collateral. Where the RAV 4 is being purchased by a business for use in the business, operators can select from Chattel Mortgage, RAV 4 Leasing and Hire Purchase to finance their purchase.
To compare loan repayment estimates on the different Toyota RAV 4 variants, or on any of the other top selling vehicles, use our Car Finance Calculator. If planning to head into a dealership for a test drive, speak with us first to get finance pre-approved and place your order on the spot.
To get behind the wheel of a top selling Toyota RAV 4 with the best interest rate finance, contact Jade Finance.
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.
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