Australians are buying new cars at almost the same rate as this time last year – to pre-coronavirus levels – as the industry remains hopeful the worst is behind it and there is a clear road ahead.
Top 25 models for October 2020
FCAI chief executive Tony Weber said every state and territory had experienced a robust rebound except for Victoria and Tasmania.“After a very challenging year, we are seeing ‘green shoots’ in the Australian new-vehicle market,” he said.The instant asset write-off scheme was a major contributor to the renewed vigor, along with increased activity as economies increasingly reopened outside of Victoria. The rebound underscores that an economic recovery is building in Australia, just as the Reserve Bank of Australia unleashed its own extra stimulus with a rate cut and $100 billion bond-buying programs on Tuesday.
Ute sales in particular surged. The No.1 selling vehicle model in Australia in October was the Toyota HiLux ute, which experienced a 26 percent jump in sales to 4,444 compared with October in 2019.
The second-ranked model was the Ford Ranger ute, where sales jumped by 33 percent to 4,217. The Isuzu D-Max ute surged up the sales charts to be No.7 overall across all vehicles, with a 52 percent jump.
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Across the states, Western Australian sales were buoyant and were up 17 percent, South Australia was up 14.5 percent, NSW was 6.2 percent higher and Queensland advanced 11.7 percent. Tasmania was down 16 percent.
Victorian sales were down 28.5 percent, but Mr. Weber said that the market was starting to improve.
For the 10 months ended October, new vehicle sales reached 726,111, which is 18.8 percent lower than the same time last year.
The small decline in October marked the 31st consecutive month in which the industry had experienced a sales decline compared with the previous corresponding period.
Mr. Weber said there was hope the recovery would continue to rebuild.
“Nationally, the state of industry operations is returning to normal as COVID-19 restrictions ease,” he said.
He said the federal government stimulus measures including the instant asset write-off, along with more accessible finance for consumers is helping momentum.
Electric vehicles more than doubled sales in October, albeit off a low base.
Across the market, Toyota was a clear No.1 brand, with 24 percent of overall sales, followed by Mazda with 9.2 percent and Hyundai, 7.3 percent
