We’re car crazy — the numbers don’t lie

0 0 January 17, 2024 Edit this post

by Alistair Kennedy

The Australian automotive market has achieved an unprecedented milestone, breaking all-time records for new vehicle sales in 2023.

A total of 1,216,780 vehicles were delivered during the year, the previous highest sales result of 1,189,116 was achieved in 2017.

Toyota was the top selling brand with 17.7 per cent of the market, while the top selling vehicle was the Ford Ranger (63,356).

SUVs and light commercials accounted for 78.4 per cent of sales and comprise all the top 10 vehicles sold in 2023.

Battery electric vehicles accounted for 7.2 per cent of sales with combined battery electric, plug-in hybrid and hybrid vehicles achieving 196,868 sales or 16.2 per cent of new vehicle sales.

FCAI chief executive, Tony Weber, said this record-breaking achievement underscores the dynamic and competitive nature of Australia's automotive landscape, providing consumers with an extensive array of choices across various price brackets.

"This extraordinary result is a testament to the adaptability and resilience of both industry players and consumers alike," he said.

"Despite the supply chain disruptions faced in recent times, consumers now have greater access to a broad range of choices, fostering increased accessibility in the market.

As we look ahead to 2024, FCAI is optimistic that the Federal Government will act and introduce a Fuel Efficiency Standard that achieves the policy outcomes that lead to emission reductions while enabling Australians to drive the vehicles that they need and want.

Availability and affordability of products across all market segments will be the key to a successful Fuel Efficiency Standard.

“For more than a decade, FCAI has been encouraging Governments to introduce a Fuel Efficiency Standard.

"Now we have the process underway it’s critical that the Federal government takes time the to get it right.

"That is essential for environmental outcomes and for consumers.”

Looking ahead, Mr Weber expressed optimism about the industry's future in 2024 while acknowledging potential challenges.

“This is a tremendously exciting time for the industry.

"Consumers have a wide choice of vehicles available to meet their work, recreation and family needs that come equipped with the latest advancements in engine technology, safety features and advanced driving, navigation and entertainment aids.

"As we celebrate this historic achievement, we recognise that the automotive sector will face challenges in the coming months.

"Cost-of-living pressures and increased interest rates will impact the market, and we anticipate a challenging 2024.

“The FCAI will continue its work with governments and other industry stakeholders during 2024 to manage a broad range of issues ranging from emissions standards, environmental impacts, logistics and supply chains, taxation, vehicle safety, data use and recharging infrastructure,” Mr Weber said.