November 2020 - the first month of positive new car sales in over 2-years - Platform Finance

November 2020 – the first month of positive new car sales in over 2-years

The Federal Chamber of Automotive Industries (FCAI) have reported November sales figures for new vehicles in Australia – and for the first time in more than two and a half years, the figures were positive.
Sales for the month of November were recorded at 95,205, an increase of 10,497 sales or 12.4 per cent on November 2019 when 84,708 sales were recorded.

On a year-to-date basis, 821,316 sales were recorded, a 16.1 per cent decrease on the same period in 2019 when 978,628 new vehicles were reported as sold. The running tally obviously being affected by monthly sales declines of up to 48.5 per cent at the start of the coronavirus crisis.

Tony Weber, chief executive of the FCAI, said the industry welcomed the first signs of recovery in the new vehicle market.

“This increase in consumer confidence is backed by government support programs during the pandemic (such as the extension of the Instant Asset Write-off scheme), the easing of lending restrictions, and the current competitive automotive market.”

Buying New Cars to Holiday at Home

With the borders opening up to interstate travel, people are looking to update their vehicles to “getaway cars” such as heavy-duty four-wheel-drives, utes and SUVs, all of which are in high demand.

“Given our inability to travel internationally, many Australians are choosing to purchase a new vehicle and holiday at home this year – and we fully expect to see a notable increase in family driving trips over the Christmas season,” said Mr Weber.

According to industry sources, about one-third of new cars reported as sold in November were orders placed in prior months, as dealers make up for lost sales earlier in the year.

Car dealers, too, are struggling to source and deliver the sheer volume of new cars, as COVID-19 interrupted production and shipping – and many dealerships scaled back staff numbers in the peak of the pandemic.

The sharp increase in new-car sales in November 2020 was driven largely by market leader Toyota, which posted its fourth-best monthly result of all time.

 

Top 10 Selling Cars in November 2020, compared to November 2019:

1. Toyota HiLux – 5038 (up from 4444)

2. Ford Ranger – 4260 (up from 4217)

3. Toyota RAV4 – 3800 (down from 4084)

4. Toyota Corolla – 2774 (up from 1943)

5. Toyota Prado – 2602 (up from 2207)

6. Mazda CX-5 – 2412 (up from 1912)

7. Isuzu D-Max – 2095 (up from 1932)

8. Hyundai i30 – 2047 (up from 1431)

9. Hyundai Tucson – 1995 (up from 1678)

10. Toyota LandCruiser wagon – 1981 (up from 1640)

 

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