NEW MOTOR VEHICLE SALES MARKET

New car sale volumes in Australia have generally been falling from mid way through 2018 through to today.  The Covid-19 health pandemic has further exacerbated this trend. A disastrous year of new car sales did have a good finish with November and December reporting larger than historic trend sales volume estimates. There were a total of 916,968 vehicles sold in 2020 which equates to a fall of almost 14% from the 2019 total of 1,062,867 vehicles.

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Source: VFACTS and McGees Property

Toyota again dominated the Australian new car sales market with the Toyota Hilux Australia’s best-selling vehicle. 45,176 Hilux’s sold in 2020 while the Ford Ranger was second (40,973), Toyota RAV-4 third (38,537), Toyota Corolla was fourth (25,882) and Toyota LandCruiser fifth (25,142).

Toyota’s share of the total market has been increasing year on year from 18.2% in 2017 up to 22.4% in 2020.  Honda has also grown in market share while Subaru and Ford have generally held stable. Unfortunately, Hyundai and Kia have fallen from having 8.1% and 4.6% market share in 2017 to be down at 6.3% and 3.4% respectively in 2020.

SUVs claimed almost 50% of the market during 2020 representing about a 5% increase in market share from 2019. Passenger vehicle sales totalled 222,103 equating to about 24% of the market with light commercial vehicles again selling well throughout the year with about 22% market share.

McGees Property specialises in market value assessments, acquisitions, disposals and decision making purposes. Should you need any valuation services, please contact Scott Campbell 0403 165 355 to discuss.

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