Buying a new car at the minute can often come down to what vehicles are available. Due to the ongoing microprocessor shortage across the globe, many manufacturers are still facing delays in getting their models into Australian showrooms. Referring to the current best selling cars data can be used as a guide to what other car buyers have recently purchased and what makes and models could be more readily available.
This data can be sourced through the FCAI (Federal Chamber of Automotive Industries), the automotive industry’s representative body, which releases information each month on car sales results for makes and models on the Australian market.
For motoring enthusiasts, this data can also provide interesting information to stay across the popularity of different brands and the competition between iconic vehicles such as HiLux v Ranger. But readers should be keep in mind that sales figures are for delivery of vehicles in that month. Under the current supply conditions the figures may not be a true reflection of demand. Dealers may have plenty of back orders for certain models and the current figures possibly reflect a recent shipment from some brands.
But the data is worth checking out if you’re in the market for a new car. We provide an overview of the top sellers and how cheap interest rate car loans can be sourced to make the purchase.
February Car Sales Data
The car sales data shows an uptick of 1.6% in February 2022 compared with 2021. FCAI Chief Executive says this is a positive result as many of the supply issues are not yet fully resolved or stabilised. He said it would be some time before the global issues in regard to computer chips was resolved and the motor vehicle industry recovered.
In the statement announcing the car sales figures for the month, Mr Weber said that new car demand in Australia remains strong and brands were hard at work to assist their customers acquire their vehicles.
General Sales Directions
Overall, the sales figures for February further highlight how the SUV market has overtaken the demand for passenger cars. Those in the market will likely be quite aware of that from the predominance of SUV models available compared with the number sedans and other passenger models.
Buyers that usually buy a passenger car may be rethinking their purchase and leaning towards an SUV. This type of vehicle is seen as offering more flexibility and versatility than some passenger cars. But remember that the ‘SUV’ name does not mean that the vehicle is a full off-road vehicle or has 4WD capabilities. If considering a SUV to tackle rugged trails for say camping trips, make sure you look for one with the appropriate features.
In regard to finance, the loans types we offer for both passenger cars and SUVs are the same. The interest rate on new car loans is predominantly determined by the assessment of the loan applicant not the vehicle. Interest rates and loan conditions do vary with new versus second-hand vehicles.
The market for passenger cars was down by 18.3% in February 2022 compared with 2021. The SUV sales for the month saw a 5.4% increase compared with last year. The van market continues its strong performance with further increases over 2021 results.
Best-Selling Makes and Models
With the most models in the top ten, it is not surprising to see Toyota retain its position as top selling vehicle brand for February 2022. Second place went to Mazda, then it was Mitsubishi in third followed by Kia and then Hyundai, in sixth came Ford, seventh MG, and rounding out the top 10 is Subaru followed by Nissan then Isuzu.
Now, drum roll, the list that attracts the most attention, the specific best-selling vehicle models for the month. In February it was the HiLux taking the top of the podium with another Toyota, the RAV4 in second and Triton from Mitsubishi in third. The Ranger made it into fourth just ahead of another Toyota, the Prado. The MG ZS came next, doing well with the highly competitive pricing. Rounding out the 10 – D-Max, the very popular CX-30 by Mazda, the Hyundai i30 and the Outlander by Mitsubishi.
For buyers keen on a passenger vehicle, look at some of the best-sellers in their individual categories:- Kia Picanto, BMW 2 Series Gran Coupe, Toyota Camry, BMW3, MG3, Stinger and Merc 3 Class.
Car Loan Options
Supply issues are continuing to impact some motor vehicle manufacturers with availability still an issue for particular models. Tip: to ensure you are in the best position to do a quick deal, speak with us about a pre-approved car loan. We source the quote and process the loan application based on an estimate loan amount so our customers have certainty and can sign the sales contract.
This can be extremely helpful where stock is low or to secure limited quantity demo vehicles which are on sale. With so many vehicles lost in the floods in Queensland and NSW, we’re likely to see a spike in new car sales in coming weeks. Increased demand may put further pressure on supply.
So if you’re in the market for a new vehicle, acting promptly is advisable to capture stock and to take advantage of cheap interest rates which are anticipated to rise later this year.
Contact Jade Finance 1300 000 008 for a quote on purchasing a top seller or to discuss pre-approved motor vehicle 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.