VFACTS November 2024: New vehicle sales decline, FCAI downplays EV growth

New vehicle sales in Australia fell by 11.6% in November 2024 compared to the same month last year, with a total of 99,091 units delivered, according to data from the Federal Chamber of Automotive Industries (FCAI).

The private buyer segment was hit hardest, declining by 16.6% as cost-of-living pressures continued to impact consumer spending.

This follows consistent monthly drops of over 14% since August, reflecting ongoing challenges in household budgets.

The shift towards SUVs and light commercial vehicles continued, with these segments dominating the market. Passenger vehicles, by contrast, accounted for only 13.7% of November’s sales, highlighting a sustained preference for larger, more versatile options.

Breakdown by segment

SUVs

The largest segment with 60,612 units sold, representing 61.2% of all sales for November, though down 2.8% year-on-year.

Light Commercial Vehicles

20,544 units sold, making up 20.7% of the market, but down 23.3% compared to November 2023.

Passenger Vehicles

Sales fell sharply to 13,621 units, a 26.3% drop, as consumers continued to move away from traditional sedans and hatchbacks.

Heavy Commercial Vehicles

This segment recorded 4,314 units sold, a modest decline of 5.2%.

State-by-state results

Sales fell across all states and territories, with the Northern Territory and Tasmania experiencing the steepest declines:

• Northern Territory: Down 21.1% to 727 units.
• Tasmania: Down 18.8% to 1,642 units.
• Australian Capital Territory: Down 18.1% to 1,333 units.
• New South Wales: The largest market, down 12.2% to 30,490 units.
• Victoria: Down 9.8% to 26,729 units.
• Queensland: Down 12.1% to 21,320 units.
• South Australia: Down 9.5% to 6,591 units.
• Western Australia: Down 12.2% to 10,259 units.

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Key brands and models

Toyota retained its position as the market leader with 20,562 units sold, far ahead of Ford (8,720) and Mazda (7,588).

Notable Toyota models dominated the rankings, with the RAV4 topping the charts at 5,526 units sold, marking a significant 125.6% year-on-year increase. Other top performers included:

• Ford Ranger: 4,981 units, down 20.9% year-on-year.
• Toyota Prado: 3,590 units, up 16.2%.
• Toyota HiLux: 3,572 units, down 39.5%.
• MG ZS: 2,794 units, up 36.5%.

The Ford Everest also recorded notable growth, with 2,737 units sold, a 97% increase compared to the same month last year.

Hybrid demand rises, EV sales break 100,000 barrier – depending on who you ask

Hybrid and plug-in hybrid vehicles accounted for 16.9% of total November sales, a sharp increase from 9.9% last year.

Meanwhile, electric vehicle (EV) sales were poor for November, but year-to-date results showed a record performance, surpassing 100,000 units for a total of 101,700 – exceeding the 2023 year-end total of approximately 98,400 units.

The FCAI – officially a representative or lobbying body for the brands that choose to participate – takes a different view on the latest EV results, however, highlighting only the underwhelming November numbers in its comments and ignoring the overall figure above, which factors in Tesla and Polestar figures (both brands having left the FCAI earlier this year in protest (Tesla, Polestar)).

As a result, this week's FCAI figures show only 70,051 EV sales year-to-date.

FCAI Chief Executive Tony Weber said: “The Australian experience with EVs is similar to many major markets overseas such as Europe, New Zealand and the USA. Car makers are responding to regulatory settings that mandate an increase in the number of zero emission vehicles by introducing new products. However, consumers remain cautious about making the shift to pure EVs and instead are purchasing hybrid or plug-in hybrid vehicles."

Mr Weber said that while the industry is introducing more affordable low-emission options, the lack of widespread infrastructure remains a barrier.

However, the expansion of charging infrastructure in 2024 has been significant, with nearly 100 new DC fast-charging sites installed across Australia.

That number brings the total to around 900 DC fast-charging sites (50kW+), and 2100 fast (100kW+) and ultra-fast (350kW) charging plugs nationwide.

Year-to-date performance

Despite the softening market, 2024’s year-to-date sales remain robust, with 1,124,712 vehicles delivered – by FCAI's records.

In FCAI figures, the first half of the year saw an 8.7% increase compared to 2023, though sales have declined by 8.2% since July.

Outlook

The Australian automotive market faces continued challenges as rising costs weigh on consumer spending.

While hybrid and plug-in hybrid vehicles show growing traction, the shift to full electrification may depend on broader infrastructure and policy developments – and the narratives delivered by manufacturers and their representatives.