Buyers in the market for a new car at the moment have a number of factors to take into account when coming to the final decision on make and model and when to buy. The supply issue in the new car market is impacting delivery times but interest rates are currently low but tipped to increase possibly later this year. So for many, the race is on to find a vehicle that is available for immediate delivery and meets their criteria so they can finalise a cheap interest rate car loan. Checking out the monthly figures to see the best selling cars makes and models can assist buyers narrow down their list of possibilities.
While it should be noted that ‘best sellers’ may not be the best cars as judged by experts in annual awards and on other criteria, the figures can give an indication as to what is currently popular with buyers and more importantly what is available.
This week the Federal Chamber of Automotive Industries (FCAI) released the data for January 2022 for new vehicle sales. The best selling cars may give car buyers a heads-up to what vehicles are available so they can move quickly and secure their purchase while car finance rates are still low.
Car Sales Monthly Figures
Overall the January 2022 car sales figures show a 4.8% drop on the sales for January 2021. It is customary for car sales data to be compared with the same month in the previous year. While this can provide information for dealers as to how the market is trending, with the current and recent supply issues, drawing comparisons month on month or in any way can be problematic.
As noted by FCAI Chief Executive, Tony Weber, the computer chip shortage and the supply chain issues due to COVID-19 continue to impact motor vehicle markets both locally and globally. However, he also notes that despite these issues, the level of buyer interest remains extremely strong.
Comparing January 2022:January 2021 on a state by state basis, NSW is down just under 10%, Victoria down only 1.6%, Queensland only 1.3%, WA 7.8%, SA 2.2%, ACT 9.7%, NT 13% with Tasmania the only jurisdiction to post an increase, 15.4% up on the same monthly figures last year.
Monthly Market Leaders
The real nitty gritty of interest to buyers is always the best selling makes and models. It can reflect long-term rivalries such as previously between the General and the Blue Oval and more recently between the iconic HiLux and Ranger utes.
But in the current climate of supply issues, drawing conclusions on popularity of a make or model based purely on one month’s sales figures can be naïve. The supply and available must be also taken into account.
Despite all the issues and impacts, it was Toyota that emerged as market leader for the month, followed by Mazda and Mitsubishi making up the podium. Next came Kia and Hyundai rounded out the top 5. The figures are for all categories of new vehicles – passenger cars and work vehicles combined.
The sales figure battle between HiLux and Ranger raged through the latter part of 2021 with the Ford tipping the Toyota off the top of the podium in a number of months. But as we start 2022, the January sales figures reveal that in the sales battle of the cab chassis utes, the Toyota HiLux has regained top spot over the Ford Ranger. In third position was the Mazda CX-5 which was a very popular vehicle in both sales and awards in 2021. The Mitsubishi Triton came fourth and Toyota’s Prado fifth.
According to reports, the Triton put up a good showing due to overcoming some supply issues. The D-MAX, BT-50 and Navara also posted good results. With their highly competitive price point, utes from GWM and LDV continue to post increasing sales figures.
The continuing good results for work vehicles is also likely to be due to the attractive tax deductions on offer through temporary full expensing. An accelerated asset depreciation measure introduced to stimulate the economy through the pandemic period. It’s still in place until June 2023 but if you want to see the benefits this financial year, you’ll need to have your vehicle in operation in the business before EOFY. Talk to us about Chattel Mortgage for your purchase.
In the passenger car market, the MG3 was tops in the light category followed by the Mazda 2 and Kia Rio. In the small car category the best sellers were Hyundai i30, Toyota Corolla and Mazda3. In the medium category – Toyota Camry was tops and in the compact SUV class it was the Mazda CX-3.
Finance for a Best Seller
Before heading to a dealership to test drive a best-seller, consider pre-arranging your ABN car finance so you are ready to commit on the spot. With supply an issue with some models, being able to sign a sales contract immediately may be the difference between driving away in days or facing months of delays.
Jade Car Loans offers pre-approved loans across our motor vehicle finance portfolio – both personal and business car loans. The cheap interest rates are the same as are all the loan features, benefits and any loan conditions.
To be ready to sign a deal for a best-selling vehicle, talk with Jade Car Loans 1300 000 003 about pre-approved finance.
DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.
