The April report from the Federal Chamber of Automotive Industries (FCAI) on the best-selling cars for the month shows a surge in the sale of electrified vehicles. Tony Weber, CEO of the FCAI, noted that five models in the ten best-selling list offered some form of electrification. Electric models now outsell hybrids, but both are experiencing huge demand, with sales reaching new heights.
As there have been for some time, there are reasons behind many of the movements in vehicle sales figures, both overall and within specific types, brands, and even models. In regard to the uptick in EVs, large numbers of Teslas arriving and manufacturing disruption in the hybrid market are reportedly at least part of the story.
The monthly top 10 is why many car enthusiasts are interested in the latest data. We can report that Ranger remains on top of HiLux as the best seller overall. But the Ford edged the Toyota out of the top spot by only 41 vehicles last month.
A reason for car buyers to take an interest in the monthly sales reports may be to see what vehicles could be available for delivery in a market that has been at the mercy of pandemic and supply issues for several years. While delivery is easing, there are reports of issues in unloading shipments causing major problems.
This time of year is an extremely busy car-buying period, especially for business buyers. Operators are keen to secure vehicles with business car finance to realize tax benefits by the end of the financial year. This year is particularly relevant for two reasons. One is the final chance to utilise temporary full expensing with sole trader car finance.
The second reason is the latest car loan interest rates increase by the RBA, mentioning that more rises could be ahead. After the surprise May decision, many private and business buyers may be keen to move now ahead of what could be further increases in the coming months.
Buyers can review the latest best-selling cars to assist with decision-making and contact Jade Car Loans to secure cheaper private and business vehicle finance.
FCAI Report – April Car Sales
The FCAI reports that the April car sales figures show a 1.3% increase compared to April 2022. Mr. Weber said the EVs account for 8% of the monthly sales, an increase on the 1.1% recorded for April last year. Including all forms of electrification, the numbers have grown from 9.5% to 15.4%. Mr. Weber commented that this number would have been even more if the industry had not had to deal with the supply issues globally.
76.8% of sales for the month came from the SUV and light commercial sector. 18.5% from passenger cars and 4.7% from heavy commercial vehicles. On a year-to-date (YTD) basis, there has been an increase of 68.5% in China-sourced vehicles, but Japan remains the biggest source country.
Despite a drop-in sale, Toyota is still Australia's best-selling automotive brand, ahead of Mazda. Passenger car sales are down on April 2022, while SUVs are up 8.6%. Light commercial sales are down 13.1% compared with the same month last year.
April's Best-Selling Cars – Brands and Models
Due to the surge in sales of electric cars, it is worth starting out with which models are selling the best. The month's top 3 models in the electric cars category were Tesla Model Y and Tesla Model 3, followed by the BYD Atto 3.
The overall top 10 models for the month are full of SUVs, can chassis, and EVs. The Ford Ranger beat Toyota's HiLux into the top spot, and Toyota's RAV4 is back on the podium in 3rd place. Tesla Model Y came in 4th ahead of the Hyundai i30 and then the Mitsubishi Outlander.
The final four were the Isuzu D-Max, Hyundai Tucson, MG ZS, and the Tesla Model 3.
However, Toyota remains the number one brand, with reports of decreased sales due to various issues around supply and/or unloading. Mazda retains second position ahead of Kia and Hyundai. For is 5th ahead of Mitsubishi, Tesla, MG, and Nissan, with Volkswagen rounding out the top 10.
Fast Access to Cheaper Car Finance
The sales data does not necessarily represent immediate driveaway availability for all makes and models. Many of the vehicles delivered in April would have been pre-ordered vehicles. But buyers that are prepared with finance approval may be best-placed to capture any cars ready to drive away.
We can assist with fast approvals on finance for both business and private buyers. With access to over 60 lenders, we have the resources to secure the cheapest business vehicle finance rates currently on the market.
For a fact, approval of car finance, contact Jade Car Loans at 1300 000 003.
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