If you’re on the trail for a new vehicle, keeping an eye on what is selling best each month can be a useful way to keep up to date with the market. The top selling cars lists can open your eyes to cars you hadn’t even thought about or give insight into what others have already decided is the best buy. But then there is the supply matter to take into account at the moment. Anyone who has tried to buy a new car recently knows what we mean. The wait times for many makes and models are months. So the figures released each month for which cars sold best, could actually mean which manufacturer received their shipment to fulfill their outstanding orders.
Whatever the intention, checking out the top selling cars each month can be useful and the results for March 2022 have recently been released by the FCAI. The Federal Chamber of Automotive Industries (FCAI) releases the VFACTS, sales figures, on a monthly basis. We give you a summary of the results for last month on what models topped the charts and which manufacturer has once again retained top spot in the brand stakes.
Tony Weber, CEO of the FCAI, issued the March car sales results media release, noting that the period recorded a small drop in the total number of vehicles delivered compared with March 2021. He said that this outcome could be taken as a ‘relatively stable’ when the challenges faced by the sector on a global basis were considered.
According to Mr Weber, this is a historic period for the sector because not the demand but supply was the market determinant. Manufacturers are still recovering from the periods of shutdown in the peak of the pandemic and of course, the microprocessor shortage was still impacting manufacturing globally.
The March 2022 results are also particularly notable as it is the first occasion in which two of the leading electric vehicle manufacturers – Tesla and Polestar, have reported sales figures. However, it should be noted that the figures reported from Tesla in March actually represent sales for the January-March period.
March’s Top Selling Models, Categories and Brands
For March 2022 the results show that SUV sales dropped slightly, passenger cars up slightly as are light commercial vehicles. That is compared with March 2021.
But the info that buyers are most interested in is the models and brands which topped the results. In the brand stakes there were few surprises or changes with Toyota retaining its position ahead of the rest.
The brands rated on the most vehicles sold year-to-date (that’s covering the 2022 year) are:-
- Isuzu Ute
Now down the real detail and the top selling models for March. Remember, availability plays a big part in vehicle sales figures at the moment. So what sold best this past month does not necessarily reflect top spot in the popularity stakes.
Top sellers for March:-
- Toyota HiLux
- Triton from Mitsubishi
- Mazda CX-5
- Model 3 Tesla
- Ford Ranger
- Hyundai i30
- Toyota Prado
In future months with Polestar and Tesla included in the VFACTS results, it will provide a more accurate indication of the sales of EVs. Australia has been slow on the uptake of EVs compared with many other countries. But likely the recent hikes in petrol prices will have buyers having more than a second look at an EV as a buying option.
For those considering purchasing an electric vehicle, Jade Finance offers the same car loan products for these as for all other vehicles. The purchase price may be higher than for petrol vehicles but the interest rate on our loans certainly is not.
Car Finance Option
The stock availability in the motor vehicle market has been a major issue for some time and some dealers are saying it could continue into next year before returning to more normal delivery times. At the same time, a rise in interest rates by the RBA is tipped for June with possibly several increases over the remainder of 2022. With the prospect of a higher interest rate loan by waiting for delivery, it could make sense to take a wider view of the car market and try to purchase asap. Consider other options rather than keeping your heart and head set on the one choice.
Jade Finance offers the full range of both personal car loans and business vehicle finance. Business buyers planning to take advantage of IAWO should consider Chattel Mortgage for their finance. To assist all buyers in planning their purchase, we provide free access and use of our car buying tools – Interest Rate Comparison and Car Finance Calculator.
To further assist buyers, pre-approved finance is available so buyers are prepared and ready to purchase and capture any vehicles which may be limited in supply.
Contact Jade Finance 1300 000 008 to discuss finance on a top selling motor vehicle
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.