January 2024 VFACTS: Exceptional Beginning, Yet Tumultuous Periods Foreseeable
In January 2024, Toyota continued its dominance of the Australian car market, selling a record-breaking 17,903 vehicles. This figure represents a 20% share of the new-car market and a significant increase from the 17,852 vehicles sold in January 2008, making it the brand's best January performance to date.
Toyota's success was followed closely by Mazda and Ford, which sold 8,165 and 6,624 units, respectively. Mazda's sales were down from 9,407 in January 2023, while Ford's remained steady compared to the previous year.
The Ford Ranger and Toyota HiLux were neck-and-neck in the race for Australia's top-selling car in 2024, with the Ford Ranger taking the lead in January with 4,747 units sold. The Toyota HiLux came in second with 4,092 units.
The SUV segment continued to be popular, with the Toyota RAV4 remaining the dominant single model in Australia during 2024. Other popular SUVs, such as the Mazda CX-3, Toyota Yaris Cross, and Suzuki Jimny, were among the best-selling light SUVs in January.
The shift towards low-emission vehicles is evident, with battery-electric cars representing 5.4% of the market and all low-emission vehicles accounting for 17.4%. China's BYD was the top-selling electric vehicle brand in January 2024, with 1,310 sales.
New South Wales had the most vehicle registrations in January 2024, with 26,791 sales. GWM-Haval placed ninth with 3,124 sales, a significant increase from 2,503 in January 2023. Isuzu Ute also saw an increase in sales, with 3,758 units sold in January 2024, up from 2,671 in the same month the previous year.
However, Tesla faced a 67% drop in sales from January 2023 to January 2024. Kia placed sixth with 5,707 sales, a decrease from 6,006 in January 2023. Mitsubishi placed fifth with 5,911 sales, an increase from 5,276 in the same month the previous year. MG placed seventh with 4,006 sales, a slight decrease from 4,015 in January 2023.
Overall, January 2024 saw a record-breaking 89,782 vehicles registered, setting a new record for the best start to a year. The sales data is based on Federal Chamber of Automotive Industries (FCAI) data for January 2024.
- The automotive industry in Australia witnessed a shift towards low-emission vehicles in January 2024, with battery-electric cars accounting for 5.4% of the market.
- Despite Toyota's dominance in the new-car market, the shift towards electric vehicles was marked by China's BYD being the top-selling electric vehicle brand with 1,310 sales.
- While the sports segment continues to evolve, the lifestyle choice of SUVs remained popular, with the Toyota RAV4 leading as the dominant single model and other SUVs like the Mazda CX-3 among the best-selling light SUVs.
- The finance sector played a crucial role in the transportation industry with the Ford Ranger taking the lead as Australia's top-selling car in January 2024, followed closely by the Toyota HiLux.
