Highest selling car models revealed: how you could finance your next vehicle

From the trusted Ford Ranger to the city-friendly Hyundai i30, the highest selling car models have been revealed. If you’re considering purchasing a new vehicle this month, make your car loan search a little easier by comparing some of RateCity’s top-rated car loan options.

The latest data from the Federal Chamber of Automotive Industries (FCAI) shows that vehicle sales have increased 1.3% year-on-year for April 2023, with 82,137 vehicles sold. 

SUVs and light commercial vehicles accounted for over three quarters (76.8%) of these sales, followed by passenger vehicles (18.5%) and heavy commercial vehicles (4.7%). 

So, which car manufacturers and models were the must-haves for Australian drivers? 

Highest selling car manufacturers - April 2023

1. Toyota - 12,029 vehicles sold
2. Mazda - 6,926 vehicles sold
3. Kia - 6,200 vehicles sold
4. Hyundai - 5,732 vehicles sold
5. Ford - 5,047 vehicles sold

Highest selling car models - April 2023

1. Ford Ranger - 3,567 vehicles sold
2. Toyota Hi-Lux - 3,526 vehicles sold
3. Toyota RAV4 - 2,198 vehicles sold
4. Tesla Model Y - 2,095 vehicles sold
5. Hyundai i30 - 2,029 vehicles sold

According to the FCAI, Toyota once again led the market as the most popular manufacturer, but the Ford Ranger was the highest selling model in April 2023. This goes to show that while Toyota makes a range of popular vehicles, more people are looking to drive away with a Ford Ranger. 

Share of sales for electric vehicles rising year-on-year

Interestingly, electric vehicles accounted for 8% of sales in April - a sharp increase compared to 1.1% in April 2022, according to FCAI Chief Executive Tony Weber.

“If you take all forms of electrification, that number has increased from 9.5% to 15.4%, and we know that this number would have been larger had the industry not faced global supply challenges,” Mr Weber said.

“It is worth noting that five out of the top ten models sold in April offer some form of electrification,” he said. 

It’s no secret that the upfront cost of an electric vehicle can be steep, but did you know that some green car loan lenders typically offer discounted interest rates to eligible customers? This is done to encourage customers to make more sustainable choices. 

However, not all green loans are created equally. It’s crucial you ask the lender for information about how it determines a vehicle to be ‘green’ or ‘eco’, and how it contributes to emissions reduction and environmental responsibility, before you apply. 

To easily compare car loan options, RateCity has ranked the top-rated car loans on our Leaderboard page, using our comprehensive, Real Time Ratings™ system.

Real Time Ratings™ gives each car loan a score out of five, based on cost and flexibility. But unlike other ratings systems that rank their products once or twice a year, our Real Time Ratings™ system ranks products live as you use the site, helping you make a more relevant short list.

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