The Australian new car market dropped 12.5 per cent in the first month of 2020 according to VFACTS data released today by The Federal Chamber of Automotive Industries (FCAI).
Utilising the updated VFACTS reporting system for the first time, sales in January totalled 71,731 units. For context, in January 2019 a total of 81,994 new vehicles were sold (a result that was 7.4 per cent down on the previous year).
Tony Weber, chief executive for the FCAI said: “Given the broad range of environmental, financial, international and political issues facing Australia during January, it is no surprise to see the new vehicle market has reported a conservative start to the year.”
A major issue that continues to depress the market is tighter lending from banks following the royal commission. The tougher lending criteria looks like it’s here to stay.
The accuracy of the sales data should be improved thanks to a stricter set of reporting guidelines. “The benefits of the new system include improved data accuracy and more timely reporting lines,” Mr Weber said.
“VFACTS is the most accurate source of data for the automotive industry. The updated VFACTS system is working well and automotive brands have welcomed its release.”
Buyers continued to swing away from passenger vehicles (20,494) with the segment down by 7556 sales (-26.9 per cent), SUVs (35,393) dropped by 547 sales (-1.5 per cent), while light commercials (14,035) were down by 1774 units (-11.2 per cent).
Toyota was the market leader in January with 14,809 sales and 20.6 per cent market share. Mazda claimed second place with 6695 sales (9.3 per cent share), followed by Hyundai with 5443 sales (7.6 per cent share), Mitsubishi with 5108 sales (7.1 per cent share) and Kia with 4,705 sales (6.6 per cent share).
Interestingly, Kia is the only top ten brand continually beating the market to finish in the black, the brand grew by 1.2 per cent when compared to January 2019.
Holden returned to the top ten, however, Subaru isn't far behind so the climb may be short-lived.
Thanks to some fresh metal, Audi enjoyed a flying start to the year recording 12.9 per cent growth over the same month in 2019, in total, Audi delivered 1448 vehicles in January.
To individual models, utes again reigned supreme in January, the Toyota Hilux retained the top spot with 2968 sales, followed by the Ford Ranger (2624 sales), Toyota Corolla (2370 sales), Toyota RAV4 (2290 sales) and the Mitsubishi Triton (2075 sales).
Top 10 selling new vehicles - January 2020
Toyota HiLux - 2968
Ford Ranger - 2624
Toyota Corolla - 2370
Toyota RAV4 - 2290
Mitsubishi Triton - 2075
Hyundai i30 - 2038
Mazda CX-5 - 1859
Kia Cerato - 1500
Toyota LandCruiser - 2101
Nissan X-Trail - 1467
Top 10 selling vehicle brands - January 2020
Toyota - 14,809
Mazda - 6695
Hyundai - 5443
Mitsubishi - 5108
Kia - 4705
Ford - 4169
Nissan - 3444
Honda - 3436
Volkswagen - 3246
Holden - 2641
More: All News