Consumers snapping up cars in “unprecedented” numbers

Consumers snapping up cars in “unprecedented” numbers

Australian car buyers have set their second consecutive monthly record.

After consumers purchased 96,859 new vehicles in July – the highest number ever for July – they followed up by purchasing 109,966 new vehicles in August – a record for the month, according to the Federal Chamber of Automotive Industries (FCAI).

FCAI Chief Executive Tony Weber said these record results were positive news for both car manufacturers and consumers.

“The Australian automotive sector continues to demonstrate its strength, with August recording unprecedented sales figures, reflecting both a high level of demand from Australians and improved supply of vehicles,” he said.

“Year-to-date sales have increased 9.9%, which is a better indicator of the underlying strength of the market.”

The latest vehicle sales data also shows Australians' rising interest in alternative vehicles.

Electric vehicles accounted for 6.4% of sales in August and hybrid vehicles 10.5%.

"As consumers continue to embrace low-emissions technologies we are seeing growth in electric, plug-in and hybrid vehicle sales. More than one in six vehicles sold in the month of August featured low-emissions technologies,” Mr Weber said.


Find the right finance

Whether you’re in the market for a traditional vehicle or an electric vehicle, getting the right finance could save you time and money. That’s why it is a good idea to speak to a broker. We can compare a panel of lenders to find the right one for your goals and circumstances. 

Compare this to a dealership that often offers a limited number of products that may not actually be in your best interest.

Published: 25/9/2023

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