Market shows resilience

The new-vehicle industry in Australia has enjoyed a record-breaking first half of 2024, with its year-to-date sales coming in at 632,412 units.

That figure represents an 8.7 per cent jump from the total for the first six months of last year and eclipses the previous record of 605,522 set in 2018, according to the Federal Chamber of Automotive Industries (FCAI).

The latest statistics also show there were 119,659 new vehicles sold across the ditch last month, which was down 4.2 per cent when compared with June 2023.

Ford’s Ranger was the top-selling vehicle in June with 6,289 sales, followed by the Toyota Hilux on 5,630, Toyota’s RAV4 with 3,907, the Mitsubishi Outlander on 3,045 and the Tesla Model Y, pictured, with 2,906.

Topping the monthly marques’ ladder was Toyota after completing 20,903 sales. Next up was Ford on 9,493, Mazda with 9,483, Kia on 8,225 and Mitsubishi with 7,723.

Tony Weber, FCAI chief executive, says the industry’s half-year sales performance was encouraging, especially considering ongoing economic challenges, and a testament to the resilience of the market.

Sales of battery electric vehicles (BEVs) dropped slightly last month and accounted for eight per cent of the market, down from 8.8 per cent in the previous June.

However, there has been an increase in BEV sales year-to-date with 50,219 such models sold, compared with 43,092 in the same period last year.

“We hope to break the significant milestone of 100,000 EV sales in 2024,” Weber adds.

“As customers increasingly turn to electric vehicles, it is critical that governments focus on the delivery of widespread recharging capability across Australia.”

Hybrid and plug-in hybrid vehicles increased their market share last month, capturing 14.4 per cent of sales compared with 7.8 per cent in June last year.

The figures also show SUVs and light commercial vehicles took out 54.5 per cent and 23.3 per cent of June’s market respectively.