The annual Bathurst 1000 once again delivered for motoring enthusiasts. Full of thrills and action with the safety car sessions in the latter part of the race forcing teams to recalculate fuel useage to ensure they made it to the line. As it has been for many years, it was another close, heart-stopping finish as Chaz Mostert and Lee Holdsworth took the chequered flag and the most sough-after trophy in Australian motorsport. It was Mostert’s second title and a first and much coveted for Holdsworth after a long and illustrious driving career. If Bathurst has revved up your interest in buying a new car, the latest best selling cars have been revealed for November and we update on cheap car loans to make that purchase.
November Car Sales Results
Mostert and Holdsworth took out Bathurst in a Holden Commodore, which unfortunately for the legions of fans, are no longer available. For many buyers of other makes and models, supply has also been an issue as global supply chain and pandemic issues continue to play havoc with the delivery of new vehicles into the hands of Australian buyers.
In a media release in conjunction with the release of the November car sales data, Tony Weber, Chief Executive of FCAI said that demand remained strong across the sector and the drop in sales reflected the issues with the international supply chain.
The sales for November 2021 show a 15.3% drop on November 2020 figures for new vehicles. As Mr Weber notes, the microprocessor shortage as well as other pandemic restrictions continue to constrain sales.
The microprocessor issue can’t be underestimated as it is not just affecting the motor vehicle industry but a whole raft of manufactured goods – whitegoods, tech, appliances – this list is endless. Individual parts in motor vehicles which can number up to 3,000 may each require individual microprocessors in some cases. So if you’re in the market for a new vehicle in the near future, what’s happening with the supply of computer chips is a definite issue to stay across.
Despite the overall decline compared with November 2020, according to VFACTS, the sales of passenger cars and SUVs appears to have been fairly consistent over the past few months following an uptick in June when business buyers would have been buying to take advantage of EOFY deals and tax benefits.
Top Makes and Models
Just like the Top 10 Shoot Out at Bathurst, the monthly car sales data has a Top 10 for models for that month and for car makers for the year overall to date. While new car buyers can use these rankings as a guide to quantity of vehicles sold, there a few things to keep in mind. The figures are for vehicles actually delivered into the hands of buyers. Due to the hold-ups in supply, many dealers have extensive order books which they are waiting stock to fill.
In the best-selling models, it was Ford Ranger again tipping the Toyota HiLux from top spot with the Hyundai i30 in third place. The top 3 were followed by Toyota Corolla, RAV4, Nissan Navara, Mitsubishi Outlander, Mitsubishi ASX, MG ZS and the Hyundai Tucson rounds out the top 10.
For the brand top 10, it’s not surprising that with multiple models in the top 10 best seller list, Toyota is way out in front on top of the top selling brands for 2021 so far. As mentioned above, the data of models is based on sales for that month while the brand comparisons are for sales for the year to date.
In second spot behind Toyota was Mazda, then Hyundai to make up the top 3. Ford is currently in 4th spot but with good sales of the Ranger currently, will they be able to nudge onto the podium by the end of 2021? Kia, Mitsubishi and Nissan then follow with VW, MG and Subaru rounding out the 10.
December is traditionally a big month for car sales as buyers rush to get a new vehicle before Christmas but the shortages may continue to hamper sales.
Car Loan Update
While some manufacturers are managing to make deliveries to eager buyers – we note Toyota has just delivered LandCruiser stock to meet orders, shortages and shipping issues are certain to have an impact on availability of some makes/models for December buyers.
Buyers may have to compromise on their wish list if securing a new vehicle is a priority over a particular make or model. Securing finance ahead of time can contribute to expediting the car buying process.
Securing a pre-approved loan is the way to go if you want to be in a position to confidently sign a sales contract on the first visit to the showroom. Jade Car Loans offers pre-approved loans across our business car finance portfolio, for both business and private buyers.
Business car loan interest rates on pre-approved car loans are the same as for loans arranged post-purchase and the same loan types, terms and conditions would apply.
So if all that Bathurst action has your interest in buying a new car revved up, speak with us first about cheap car finance to ensure you’re in pole position to secure your new vehicle.
Contact Jade Car Loans 1300 000 003 for new car finance.
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