VFACTS January 2024: Record-breaking start, but turbulent times predicted

The Australian new car market has posted its best-ever start to a year, but industry officials have expressed concerns for future months due to current economic conditions.

According to official new-car sales results from the Federal Chamber of Automotive Industries (FCAI), 89,782 vehicles were registered in January 2024 – beating the previous record of 88,551 cars set in 2018.

However, the automotive industry has warned that the new-car market is unlikely to beat the record set in 2023 when 1.2 million vehicles were sold, with Toyota predicting around 1.05 to 1.1 million overall sales for 2024.

FCAI chief executive Tony Weber said the record-breaking start to 2024 was due to existing demand for new vehicles in 2023 that has “continued into 2024 with many businesses and families taking ownership of a new vehicle” in the new year.

Top-selling brand Toyota sold 17,903 vehicles in January – a record start to a year for the Japanese marque – followed by Mazda (8165), Ford (6624), Hyundai (6162) and Mitsubishi (5911)

Australia’s new favourite vehicle, the Ford Ranger ute, remains in first place with 4747 units, followed by the Toyota HiLux (4092) in second place.

In 2023, 63,356 examples of the Ford Ranger were sold in Australia, compared to 61,111 Toyota HiLuxes. The Toyota HiLux was Australia’s top-selling vehicle between 2016 and 2022.

New South Wales registered the most vehicles in January with 26,791 sales, ahead of Victoria and Queensland with 23,770 and 19,786 sales, respectively.

Western Australia (9911), South Australia (5999), Tasmania (1493), the ACT (1290), and the Northern Territory (742) followed.

The Federal Chamber of Automotive Industries said Australia’s preference for larger SUVs and utes showcases the challenges facing the Commonwealth Government’s plan to introduce a New Vehicle Emissions Standard from January 1, 2025.

“Industry wants an emissions standard that is ambitious without limiting the choice and increasing the cost of the vehicles Australians need and want,” said Weber.

Battery-electric cars represented 5.4% of the market in January, while all ‘low-emission’ vehicles – including hybrid, plug-in hybrid and electric – accounted for 17.4%.

Tesla faced a 67% drop in sales – from 3313 in January 2023 to 1107 in January 2024 – with a two-week delivery pause for the facelifted Model 3 due to an ADR compliance issue and a delayed shipload of Model Ys due to stink bug contamination with deliveries pushed back into February.

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China's BYD was Australia’s top-selling electric vehicle brand for the first time in January, with 1310 sales.

“Even with the current incentives offered by the Commonwealth and State and Territory Governments, sales of battery electric vehicles appear to have plateaued during recent months,” added Weber.

“For more than a year the industry has been sharing information with the Government about what is happening in the suburbs and regions around the country and the preferences and challenges facing families and businesses.

“Good policy must reflect reality rather than a desktop exercise that makes assumptions about what the world can look like, and we strongly urge the Government to share its modelling with us.”

JUMP AHEAD

• Top 10 models
• Top 10 brands
• Sales by segment
• Sales by fuel type
• Sales by country of origin
• Sales in charts

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🥇 Australia’s top 10 cars for January 2024

Ups and downs ⬆️ + ⬇️

The neck-and-neck race between the Ranger and HiLux continues in 2024, with a 700-car lead for the Ford in January as it looks to again become Australia’s top-selling car.

In first place, the Ford Ranger recorded 4747 sales – down two units from January 2023 – with the Toyota HiLux following in second place with 4092 sales, down 1% from last year.

The Isuzu D-Max took third with 2541 sales, followed by the Toyota RAV4 in fourth place (2211).

The Mitsubishi Outlander placed fifth (2077), followed by the MG ZS (1888), Toyota Corolla (1843), and Toyota LandCruiser Prado (1746)

The Hyundai i30 (1727) placed ninth, while the Mazda CX-5 took 10th place (1720).

In tables: Top 10 cars in January

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🥇 Australia’s top 10 car brands for January 2024

Ups and downs 🔼 + 🔽

Toyota recorded 17,903 sales (▲ from 13,363 in January 2023).

This is a new January record for the brand, surpassing 2008 when it sold 17,852 vehicles.

Toyota represented 20% of the new-car market for the month.

Mazda finished second with 8165 sales (▼ from 9407), while Ford placed third with 6624 sales (identical to January 2023).

Hyundai, in fourth, recorded 6162 sales in January (▲from 5809), while Mitsubishi placed fifth with 5911 sales (▲ from 5276).

Kia followed in sixth with 5707 sales (▼ from 6006), while MG placed seventh with 4006 sales (▼ from 4015) and Isuzu Ute, in eighth, recorded 3758 sales (▲ from 2671)

GWM-Haval placed ninth with 3124 sales (▲ from 2503), and Subaru, in tenth, sold 3068 vehicles (▼ from 3601).

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In tables: Top 10 brands in January

And the rest...

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Size & Shape: Market segment results for January

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January 2024: New car sales by fuel type

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Country of Origin: Where Australia’s new cars came from in January 2024

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In charts 📊

January 2024 – Top 20 models

January 2024 – Top 10 brands

January 2024 – Overall segment sales

January 2024 – Category sales

January 2024 – Sales map

January 2024 – Buyer type

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