IT’S HARD NOT TO FEEL sympathy for car companies and dealers as the Australian new car market continues to decline.
Car sales are closely related to property values, so there is some light on horizon as property values have recently begun to climb again, making it easier for car buyers to borrow.
New vehicle sales figures for the month of November 2019 today released by the Federal Chamber of Automotive Industries (FCAI), the peak body for the automotive industry in Australia, confirm continuing sluggish new vehicle sales in the Australian market, with 84,708 sales recorded during the month, a 9.8 percent decrease on the same period last year. On a year-to-date basis, total sales for 2019 have been recorded as 978,628 units, an 8.2 percent decrease on year-to-date 2018.
Tony Weber, chief executive of the FCAI, said it was the twentieth consecutive month of decreasing sales.
“It is a tough market – full stop,” Mr Weber said.
“The industry has been looking for a lift for some time now and has activated multiple levers to achieve some stimulation, including incentives, sales and special vehicle editions. However, the appetite for new vehicles remains suppressed. On the bright side, there has never been a better time to purchase a new vehicle,” Mr Weber said.
“With over 60 brands and more than 350 models, the Australian market is one of the most competitive in the world. This is great news for consumers who have an abundance of choice and pricing options when it comes to selecting a new vehicle.”
“Now, with the holiday season upon us, is a great time to act!” Mr Weber said.
Total sales for the month in the Passenger vehicle segment totalled 23,022 (down 21.3 percent over November 2018), with 39,541 in the SUV segment (down 1.1 percent on November 2018) and 19,065 in the Light Commercial vehicle segment (down 8.8 percent on November 2018).
The Toyota Hilux (3,687 units) was the top selling vehicle in November 2019, followed by the Ford Ranger (3,491), the Mitsubishi Triton (3,123), the Hyundai i30 (2,339) and the Toyota RAV4 (2,316).
Toyota remained the top selling marque for the month with 16,954 sales for 20 percent market share, followed by Mitsubishi with 6,861 (8.1 per cent market share), Hyundai with 6,821(8.1 per cent market share), Mazda (6,167 sales for 7.3 per cent market share) and Kia (5,141 sales for 6.1 per cent market share).