COVID-19 has led to changes in many aspects of life. One in particular is in the way buyers go about selecting and purchasing a new vehicle. You could say it used to be a lot more fun. The choices were extensive, test drives aplenty and many buyers enjoyed the banter with dealers in negotiating the best price and the best trade-in deal. Possibly using another offer as a bargaining chip. These days, with supply limited for many car makes and models, checking out the best selling cars data can be one way for buyers to identify availability expedite purchase.
The supply issue presents a major challenge for buyers as enquiries to dealers receive a waiting list response. The best selling cars figures are not a definitive guide to availability of vehicles but can be a starting point for buyers. Best selling cars for each month are reported by the FCAI and cover the VFACTS for that month for manufacturers and individual models. The report includes comparison with the previous year’s month as well as year to date comparisons.
The latest best-selling monthly car figures have recently been released and we check out the results for the month of July this year.
The best-selling monthly sales reported by the FCAI are for actual delivery to buyers of new vehicles only. The sales of second-hand vehicles are not include in the figures. The statistics for wait list and back orders are also not covered in the data.
For July 202, the FCAI’s Chief Executive Tony Weber, reports a relatively flat result with only a 0.4% lift in sales compared with July last year. These figures, Mr Weber says indicate the market has not returned to pre-COVID, more normal levels. He repeated comments made over a number of months regarding the effect of the pandemic situation globally on the local new car market.
In particular he note the impacts being felt both by vehicle and component suppliers and manufacturers. These relate to shutdown of factories, the issues around shipping and what he describes as ‘unpredictable logistics’.
Those seeking to purchase a new car in the near future and would like a vast choice, may be disappointed to hear that Mr Weber does not expect the supply situation to stabilise soon. He also noted that on a global basis, not just here in Australia, the demand for new vehicles is continuing to outstrip the supply.
July Sales Overview
Sales in July this year compared with last year recorded a 0.4% increase. As has been the trend for some time, the market for passenger cars is down. This month -9.1% when compared with July 2021. The SUV market on the other hand continues its trend of rising popularity, recording a 6.4% rise, July 2022:July 2021.
In no surprise to many, Toyota maintains its dominance across the manufacturers. Coming in second for the month was Mazda and then Hyundai. Following them Kia and Mitsubishi.
The race between the two most popular work vehicles in the Australian market – HiLux and Ranger, is always a keen competition. For July it was HiLux coming out on top and quite decisively. HiLux selling 6,000 units while the Ranger sold less than 3,000. The Toyota RAV4 was the third best-selling model for July followed by the CX-5 from Mazda and Hyundai’s Tucson.
Remember, these figures relate to the actual number of vehicles that buyers took delivery of in the month. Many dealers have extensive bulging order books and are awaiting delivery of stock. The monthly figures can reflect which manufacturers managed to get deliveries and deliver orders in that period.
Let’s drill down further in regard to the model sales and brand rankings for the year so far.
The 10 best-selling models in the month: HiLux, Ford Ranger, Toyota RAV4, Mazda CX-5, Hyundai Tucson, Toyota LandCruiser then Corolla, followed by the D-Max, Mitsubishi Triton and Kia Sportage.
In the race for best-selling brand for the year so far, as mentioned above, Toyota continues to lead well ahead of second position Mazda and fourth Mitsubishi. Then comes Kia and Hyundai, Ford, then MG and Isuzu, with Subaru ninth and tenth best-selling brand is Nissan.
Electric vehicles appear to possibly be getting traction in Australia after a slow acceptance when compared with the take-up overseas. PHEV sales increased 77.8% when comparing June 2022 with 2021. EVs actually outsold PHEVs.
What can buyers from the monthly sales figures? It would be bold to claim popularity based purely on one month’s figures considering the issues facing the market right now in regard to supply. But it may give buyers and inkling of an indication as to what brands have had recent deliveries and as such stock available.
It may be worth contacting dealers as some buyers may not have proceeded with orders placed some months earlier.
Car Finance Update
Buyers seeking new vehicles which are in short supply may be aided by securing pre-approved motor vehicle finance. We offer this option across our car loan selection for the purchase of both private and business vehicles. Having the finance already secured allows buyers the opportunity to immediately commit to a purchase the moment they locate an available vehicle. This timing can be critical in low stock situations.
Review the better rates we are currently offering, despite interest rates being on the rise or just give us a call for a quote.
Contact Jade Finance 1300 000 008 for finance to purchase a best-selling car.
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.