Buying a new car used to be a very exciting experience with buyers sometimes spending multiple days or weekends visiting dealerships to ‘kick the tyres’, take test drives and haggle on trade-ins and discounts with motor dealers. But with supply chains disrupted new car supplies, much of the search for new cars has gone online including checking out the monthly top selling makes and models. With supply still being impacted and with prices of new cars on the rise, buyers can equip themselves by sourcing their cheap car loans prior to visiting a dealership.
With new car prices rising, cheap car loans as offered by Jade Finance can mean the difference between affording the first choice or having to compromise with a cheaper alternative. Where to start with finding that new car and the cheap car loan? We provide some direction with the September car sales data from the FCAI and info on our cheap car loans.
Vehicle Sales Report – September 2022
The Federal Chamber of Automotive Industries (FCAI) has released the new car sales data for September 2022 with the headline on the impressive EV sales. With Tesla now providing data for these reports since August, the figures for the sector may now be providing a clearer picture.
The FCAI’s CEO, Tony Weber, says that the strong EV results for the month is a sign that more Australians are showing their commitment to decarbonisation in regard to their transport. The good result is that more than 7,000 battery electric vehicles made their way to buyers in the month. A lot larger number than the numbers for plug-in hybrids and hybrids which totalled 5,000. It all sounds impressive and encouraging but the report notes that the battery part of the sector is only 2.7% of the overall market.
New car sales vary across the states with declines in SA, NT, WA and TAS but a 67.7% jump in ACT, 2.9% for QLD and 21% rise in sales for NSW and around the same for VIC. It has to kept in mind that the sales figures reported each month are for the actual number of new vehicles which are delivered to buyers. Many makers are still being constrained with stock supply issues and reports are that many order books are still waiting to be fulfilled. Keep that in mind when we come to the makes and models results.
Key trends which have emerged over recent periods have continued with passenger cars continuing down, SUVs still very popular and EVs as we said, on the up. A positive sign for the move to zero emissions in a country renowned for its slow take-up of EVs. Mind you, the pricing and lack of charging infrastructure has not helped attract buyers! With LDV just one of the vehicle manufacturers about to launch their EV ute, it will be very interesting to see if that sector pushes EV sales up significantly moving forward.
Models and Makers Making the Top Ten
For those regular followers of monthly car sales figures, there won’t be any surprises with the top brand. Toyota is the number one selling maker again this month. Second place went to Kia, then came Mazda with Mitsubishi rounding out the first five. Ford came in next and reflecting the strong EV sales, Tesla was 7th placed maker. The rest of the top ten included Hyundai, Volkswagen, MG and in tenth place was Subaru.
That was the ranking for September 2022 only sales. The YTD (year to date) rankings vary slightly. Toyota is still number one but Mazda comes in second, then Mitsubishi ahead of Kia and then Hyundai. The final five spots go to Ford, then MG, Isuzu with a good performance with D-MAX then Subaru and Volkswagen.
Now drilling down to what is most important to many buyers, the top selling models for the month. This may be especially important with the current stock issues, because it may provide an indication of which brands have vehicles available for delivery.
The top sellers were Toyota’s HiLux, Ford Ranger, Tesla Model Y, Mazda CX5, Mitsubishi Triton, DMAX, Mitsubishi Outlander, Toyota’s RAV4, Kia’s Sportage and the i30 from Hyundai. Spy a model that you’re interested in purchasing? Let’s talk car loans.
Cheap Car Loans Update
Many new vehicles are hitting the Australian market with significant price hikes. This can be put down to a range of factors including global inflation and massive issues around supply of components which could be pushing prices up. Buyers may be finding the vehicle that they had been planning to buy for some time now has price tag which is up to several thousand dollars more than the previous model.
Add to that the prospect of further RBA rate rises ahead and a quandary emerges. How to afford it based on previous budgeting and planning or should that selection be scrapped and a cheaper make or model sought? Before compromising, talk to us about a cheaper car loan to make that first choice a reality.
We achieve cheaper interest rates on both private vehicle and business vehicle finance. The interest rate is critical to achieving a cheaper loan and with the RBA indicating more rate rises are expected, the time to move on that car loan application could be right now! Pre-approved loans are available for Secured Car Loans and business vehicle finance so the loan can be sourced before selecting the car. That can be extremely helpful at the moment as it allows buyers to start looking for a car which is in the price bracket in line with their approved car loan.
Contact Jade Finance 1300 000 008 for cheap car loans on top selling cars.
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.