The Australian car market has continued to experience a slump in car sales for 8 consecutive months with sales dipping to 7.4%. A total of 93,860 car sales were recorded for the month of November which is a drop from 101,365 car sales which were achieved at the same time last year. Here is what you need to know when it comes to the latest in car sale trends.
Passenger car sales take the biggest hit
The continued trend in car sales dropping has caused passenger car sales to take a major hit dropping to 20.8% in November and 15.0% for year-on-year sales. Car experts are unsure whether this dip will continue into 2019 or if it’s just a temporary kink in sales. It could also be due to the current economic conditions that many Aussies find themselves facing, making them cautious when it comes to purchasing new cars. This is a considerable dip when compared to other vehicles such as SUV sales that dropped by 1.9%, commercial vehicles by 4.2%, and heavy commercial vehicles by 2.7%.
NSW experiences the highest car sales plunge when compared to other states
Sales have gradually plummeted across all states and territories except for Tasmania. Most states experienced a decline of up to 7%, but NSW took the biggest plunge with car sales down by 11.6%.
Toyota holds the position of top selling brand
When it comes to the top-selling brand Toyota continues to hold its rank as the top selling brand with 18,271 sales followed by Mazda with 8,905 sales, and Hyundai closing the top three selling brands with 7,869 sales. Holden experienced the largest drop in sales when it comes to brands with a 35.0% drop followed by Ford dipping to 12.0% and Volkswagen dropping to 12.1%. Despite the decrease in sales of 2.8%, Toyota still maintained sales when compared to other car brands on the market.
Ford may be ranked as fifth when it comes to the top selling brands, but it managed to spring a surprise on Holden by overtaking it for the first time in 21 years with 5, 519. Ford managed to pull a fast one on Holden when it came to the year-to-date sales in February. While Ford’s sales drop to 12.0%, Holden dropped to 35.0% in November.
Top selling models in November
When it comes to the top-selling models the Toyota Hilux remained the top-selling model with 4,671 sales followed by Ford Ranger at 3,469, and Toyota Corolla 2,659 as the top three selling brands. The Hyundai Tucson trailed at the end of the top selling models with 1,632 sales.