The August 2021 car sales results have been released and once again, Toyota’s all-time workhorse, HiLux has topped the sales sheets with the Ford Ranger in second place. Many car buyers watch the monthly sales figures to see what’s selling as an indication of what they may consider. But in the era of COVID, monthly sales results should be considered in context. Jade Car Loans updates on business vehicle financing options available for top sellers in the August '21 car sales results.
Comparing 2021 to 202, total sales for August 2021 are up 33% compared with August 2020. But reflecting, August 2020 was a very uncertain time with the nation trying to come to terms with the full economic and social impact of COVID-19. Yes, August 2021 was also a challenging time with multiple states and territories in various stages of lockdowns. But it may be said that both individuals and businesses have a better handle on what the COVID scenario represents. They may also have renewed optimism to proceed with vehicle purchases as vaccination rates approach the key targets for the reopening of the economy.
However, when comparing August figures on a 5 year average basis, sales are down. No doubt reflecting the challenges presented by COVID both in accessing new vehicles and buyer preparedness to invest.
The FCAI also notes that car makers have pivoted and amended their selling resources and approach due to COVID and were working hard to connect with their buyers who were in lockdown and/or isolation. Many are offering an online and click and collect buying model.
When comparing the rankings of brands and individual models, consideration must be given to delays in global production caused by both COVID issues and the shortage of computer chips. The microprocessor shortage especially is causing factories in multiple industries to cut back production significantly. This is a result of the drought in Taiwan which is the world’s biggest producer of chips.
So monthly sales figures may reflect more the supply or timing of shipments arriving in Australia than overall popularity. Those not in the top 10 may have orders ready to fill as soon as shipments do arrive. According to reports, Nissan with their highly popular Navara, is a brand that does have back orders but is awaiting the arrival of vehicles for buyers.
Comparing August to previous months, all categories especially light commercial, were down in June 2021 which could reflect the EOFY rush to buy and take advantage of IAWO and temporary full expensing in the 2020/21 financial year. These tax incentives are still on offer for this financial year and business buyers can discuss the various finance options with our Jade Car Loans consultants.
SUVs are still the stand-outs and count for a significant percentage of sales with the larger SUV models showing the biggest increase in sales.
The Top 10 Models and Brands
Drum roll, now for the nitty gritty and the specifics in the top 10.
As noted above Toyota HiLux leads in the top spot, with the Ford Ranger in second position and the Toyota Corolla in third. Next is another two Toyota models, the top-selling SUVs RAV4 and Prado. The final 5 are the Mazda CX-5, the Hyundai i30, the Isuzu D-MAX, the MG ZS and the Mitsubishi Outlander.
Now looking at the top selling brands and with 4 models in the top 10, it is not surprising that Toyota blitzed all other makers for top selling brands. Mazda came in second, followed by Hyundai, then Ford and Kia. The final 5 were made up of Mitsubishi, Nissan, Volkswagen, MG and Subaru.
What can potential buyers take from these latest figures in selecting their vehicle? Possibly considered a matter of general interest rather than a clear indication of the high popularity of some makes and models due to availability issues especially.
If in the market for a new vehicle, buyers will need to weigh up availability timing against their need to purchase when making decisions. For those with their heart or wallet set on a particular make/model, it may be a matter of putting in your order and waiting for your shipment to come in.
If looking at pre-ordering a new vehicle, speak with us about pre-approved finance. We offer this option across all our vehicle finance products, both private and business.
Others may need to shortlist a few models and discuss delivery timing with dealers if there is an element of urgency to the purchase. Using our loan calculator allows for rough repayment estimates to be calculated quickly when discussing deals with dealers.
While vehicle sales are strong, the motor vehicle finance situation also remains attractive. The RBA kept the official cash rate on hold at their September board meeting, meaning lending rates in many sectors remain at historic lows. Refer to our Interest Rate Comparison calculators for our current rates across our portfolio.
Business Car finance rates are not determined by the actual make/model. Rates vary across different loan types and loan offers are primarily determined by an assessment of individual loan applications.
As all our car loans are sourced, quoted and structured on an individual basis, please connect with us via email, online or by phone for a cheap interest rate car finance quote.
Contact Jade Car Loans at 1300 000 003 to discuss motor vehicle finance
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