Breaking News
Investing Pro 0
Cyber Monday SALE: Up to 54% OFF InvestingPro+ CLAIM OFFER

New car sales back to their winning ways, up 17%

By Hanan DervisevicMarket OverviewSep 06, 2022 09:54
au.investing.com/analysis/new-car-sales-back-to-their-winning-ways-up-17-200523684
New car sales back to their winning ways, up 17%
By Hanan Dervisevic   |  Sep 06, 2022 09:54
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

New data revealed 95,256 vehicles were sold in August, an increase of 17.3% on figures reported for August 2021.

The Federal Chamber of Automotive Industries' (FCAI) 'VFACTS' report released today revealed the 95,256 new vehicle sales represents an increase of 14,057 vehicle sales compared to August 2021.

Albeit, August 2021 was when Queensland experienced sporadic Covid lockdowns, and New South Wales and Victoria were experiencing some of their longest lockdowns.

Car sales figures for the months prior in June and July reached 99,974 and 84,461 respectively, bringing the year-to-date total to 717,575.

FCAI Chief Executive Tony Weber said the increase in new vehicle sales is encouraging amid the global economic recovery from the pandemic.

“The August VFACTS sales are the best August result since 2017,” Mr Weber said.

“This gives hope that the supply of vehicles to the Australian market is beginning to show signs of improvement.”

The VFACTS report revealed state-by-state sales statistics compared to July 2021, noting:

  • Australian Capital Territory sales increased by 49.8% with 1,410 vehicles sold.
  • New South Wales sales increased by 40% with 30,501 vehicles sold.
  • Northern Territory sales increased by 4.2% with 816 vehicles sold.
  • Queensland sales increased by 11.7% with 21,379 vehicles sold.
  • Victoria sales increased by 18.4% with 25,053 vehicles sold.
  • South Australia sales decreased 9.7% with 5,702 vehicles sold.
  • Tasmania sales decreased 3% with 1,611 vehicles sold.
  • Western Australia sales decreased 6.5% with 8,784 vehicles sold.

Toyota led the market with a total of 20,616 vehicles sold followed by Mazda 8,824; Kia, 6,780; Hyundai, 6,643; and Mitsubishi, 6,380.

EV sales continue their upward trend

Sales of electric cars accounted for 4.4% of the total market in August, the highest market share for electric vehicles ever recorded in a single month.

“We have seen strong sales of battery electric vehicles in August, with Tesla (NASDAQ:TSLA) alone selling 3,397 vehicles,” Mr Weber said.

“Year-to-date EV sales are 2% of the total market, hybrids are 7.6% and plug-in hybrid vehicles are 0.6%.

“Combined electrified vehicles are now just over 10% of total sales in 2022.”

"New car sales back to their winning ways, up 17%" was originally published on Savings.com.au and was republished with permission.

New car sales back to their winning ways, up 17%
 

Related Articles

David Bassanese
Twilight zone By David Bassanese - Nov 28, 2022

Week in review The third ‘Fed pivot’ trade this year – which essentially has been in place since mid-October – continued last week, with markets still basking in the growing...

New car sales back to their winning ways, up 17%

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email