Car buyers, or would-be buyers, who have had to put purchase plans on hold or go on extended wait lists due to supply issues in the motor vehicle industry should be pleased to hear the latest car sales. The August vehicle sales data has been released by the FCAI (Federal Chamber of Automotive Industries) with impressive figures and the list of top selling cars. August 2023 sales were 15.4% higher that August 2022 with the year-to-date (YTD) figures showing a promising positive trend.
With many buyers keen to get behind the wheel of a new car, Jade Finance covers the latest sales figures and details the top selling cars and loan options for private and business buyers. With supply appearing to ease along with interest rates also on hold, now could be an ideal time to start or re-start those car buying plans. The summer holidays are not that far away so it could be time to think of a road trip car or for business operators, to upgrade vehicles and be ready to tackle the new year opportunities.
Unprecedented Sales – FCAI
In reporting the August vehicle sales results, the FCAI Chief Executive Tony Weber, described the data as unprecedented. Mr Weber welcomed consecutive months of record breaking results, noting the high demand and improving supply scenario. The 15.4% increase on the same month last year is something to celebrate for the industry, but Mr Weber focussed on the YTD comparison of a 9.9% lift as being more significant of market strength.
Low emission vehicles continue to be embraced by the Australian market with hybrids making up 10.5% of August sales and EVs 6.4%. Despite drops in sales in recent times, Toyota retained its position as the top selling cars brand with Mazda holding second spot followed by Ford.
The Ranger v HiLux rivalry is closely watched by motoring enthusiasts, owners and buyers. In August the HiLux triumphed in the sales figures but it was no routing. Toyota selling just two more vehicles than the Ford Ranger. What else sold well? Read on for the top sellers in a range of categories and start thinking finance with our update on motor vehicle finance options and interest rates.
August’s 10 Top Selling Cars and Brands
Ranger and HiLux appear to own the top steps on the sales podium. But lower in the top 10 rankings there are regular changes and in August there was a few. Tesla which had featured as high as 3rd best seller, reportedly did not have significant stock deliveries in August. This has been given as a reason for the Toyota RAV4 to sneak into 3rd top selling vehicle.
The complete 10 top selling cars in August were:- HiLux, Ranger, Isuzu D-MAX, MG’s ZS model, Toyota Corolla, Tesla Y, Tucson from Hyundai, Mitsubishi Outlander and finally the Prado in 10th.
The brand stakes are an equally sought-after accolade. The top selling car brands for the month were Toyota, Mazda and Ford leading the charge, followed by Kia then Hyundai and Mitsubishi. MG, Tesla, Subaru and Isuzu round out the 10.
Details on the top sellers are provided for a different vehicle categories to assist buyers see where stock may be available and what other buyers have already decided are the best buys.
Here are a few of the popular categories for buyers to noted:-
- Below $60,000 medium car: Toyota Camry, Octavia by Skoda, Mazda 6.
- Below $60,000 medium SUV: Toyota RAV4, Tucson and Mitsubishi Outlander.
- Above $60,000 medium SUV: Model Y Tesla, Lexus NX and CX-60 by Mazda.
- Below $70,000 large SUV: Prado, Outback and Everest.
- Ute 4x2: Toyota HiLux, Isuzu D-MAX and Ford’s Ranger.
- Ute 4x4: Ford Ranger, Toyota HiLux and Isuzu D-MAX.
- Above $100,000 ute: RAM1500, Chevrolet Silverado HD, Chevrolet Silverado 1500.
Sales figures do not definitely indicate stock availability. Some of these sales would be fulfilling wait list orders. Buyers are advised to contact dealers to check stock levels. Where stock is still limited, speaking with us to arrange financing first, may assist in securing your vehicle of choice.
Top Selling Cars Finance Options
To finance a top seller or any other new vehicle, the Secured Car Loan will suit most private buyers. A straightforward secured finance format with our attractive rates and terms.
Business operators can select from Chattel Mortgage, Lease, Hire Purchase, and even abn car loans to finance their top tenner. Temporary full expensing is no longer available for most businesses and assets over $20K, but attractive tax deductions and our lower rates can deliver cost-effective and workable financing solutions.
Car Loan Interest Rates
The RBA Board kept rates steady on September 5 and the markets expect rates to remain this way for a while. Despite the RBA hold, car finance interest rates still vary within the motor vehicle lending sector. As the best personal loan broker, we assist buyers by sourcing the best rates from across a wide selection of lenders to simplify and expedite the process of finding the cheapest vehicle financing.
Use our current rates for personal car loans and business vehicles as a guide and contact us for your specific rate.
For better finance at better rates on top selling cars contact Jade Finance on 1300 000 008
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