Cars flying off the lot across Australia
Australia could post its fourth consecutive year of record car sales, according to new data from the Federal Chamber of Automotive Industries.
There were 95,221 vehicle sales in August – down 1.5 per cent on the previous year, but still the second-best August result in history.
There were 786,294 vehicle sales in the first eight months of 2018, which was just 0.3 per cent lower than the first eight months of 2017.
Best-selling vehicles in August
- Toyota Hilux = 4,275
- Ford Ranger = 3,515
- Toyota Corolla = 3,033
- Mazda3 = 2,969
- Mazda CX-5 = 2,599
In the first eight months, sales climbed in three states – Tasmania by 12.2 per cent, South Australia by 1.5 per cent and Victoria by 0.5 per cent.
However, sales fell by 9.7 per cent in the Northern Territory, 5.1 per cent in the ACT, 4.1 per cent in New South Wales, 3.9 per cent in Western Australia and 0.3 per cent in Queensland.
So far in 2018, SUVs have accounted for 42.8 per cent of sales, passenger cars 33.6 per cent and light commercial vehicles 20.2 per cent.
Highest market share in August
- Toyota = 19.8 per cent
- Mazda = 11.3 per cent
- Hyundai = 8.4 per cent
- Mitsubishi = 7.4 per cent
- Ford = 6.3 per cent
Federal Chamber of Automotive Industries chief executive Tony Weber said people were still buying cars, despite property prices falling in some areas and a drought afflicting others.
“It’s important to remember that the 2017 total was the third record year in a row for the industry and, year to date, we are sitting just 0.3 per cent below that record pace again,” he said.
“By any measure, that indicates there’s resilience and continued demand in the market. It also means we are still within striking distance of another record year.”
Some of the cheapest car loans in Australia
| Lender | Advertised rate | Comparison rate |
|---|---|---|
| 360 Finance | 4.69% | 5.60% |
| Mortgage House | 4.99% | 6.28% |
| Illawarra Credit Union | 5.25% | 5.89% |
| Bank First | 5.29% | 5.50% |
| Community First Credit Union | 5.34% | 6.10% |
Disclaimer
This article is over two years old, last updated on September 8, 2018. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent car loans articles.
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