The first half of 2022 has seen some historical lows and highs in auto sales. To start with, new car sales reached a 10-year low in June, going below 100,000 units for the first time (down to 99,974 units). According to reports of car sales data by The Federal Chamber of Automotive Industries (FCAI), this brings the total number of vehicles sold so far in 2022 to 537,858, a decline of 9.7% compared to the same point last year.
On the other hand, used cars have skyrocketed, with prices rising 79% since the start of the pandemic. Supply chain issues are still to blame, with some customers waiting over a year for deliveries.
But the car sales data also tell a story of a strong market with soaring demand. Some car manufacturers are reaping big, with many of the month's bestsellers enjoying double-digit growth compared to the previous year.
In this topsy-turvy market, there were mixed fortunes for car brands. Although some mainstream brands fell markedly, a few brands have been pressing their way up. Korean sister brands Hyundai and Kia are enjoying massive growth, with models such as the Hyundai Tucson gaining almost 90% YTD.
As expected, Toyota continues to top the charts, something the marque has done every year since 2003. In January this year, the company celebrated 25 years as Australia's best-selling vehicle brand, with 223,642 vehicles sold in 2021 (its third-highest year ever in the country).
The Toyota Hilux is also enjoying a six-year run at the top, topping the commercial, ute and SUV segments.
Kia and Hyundai's 2nd and 3rd spots for the month are unsurprising. Mazda's sales dropped by 48.9%, driving it to the fourth spot for June, although it still enjoys 2nd place YTD. Mitsubishi got fifth place, while Ford grabbed sixth despite a 41.2% drop in sales from May and 24.6% from the previous year.
Mercedes, Subaru, and Isuzu rounded off the top 10, with brands like Volkswagen, BMW, and Suzuki missing. Nissan conspicuously fell a massive 52.8% to become the biggest loser of the month.
Looking at the vehicle sales statistics by segment, the luxury vehicle segment is once again beginning to gain ground, while passenger and light commercial vehicles declined slightly. The SUV market grew to 55.38% of the total sales, compared to 50.88% in June passenger cars fell slightly from 22.11% to 19.46%, while light commercial sales fell to 25.16% from 27.02%.
Looking at the overall segment sales, the biggest losers were utes/pickups, small and large SUVs, and small vehicles. Medium SUV sales increased by more than 2,600 units to 19,254, up from 16,603 units in June 2021.
The light SUV category remained unchanged, while "upper large" SUVs and "people movers" enjoyed a slight increase.
The trends are pretty much the same for other sub-categories, including sports cars, small and large SUVs, and upper-large SUVs. Mainstream brands continue to dominate, but overall sales for all but medium SUVs declined.
One outlier in 2022's car sales data was the heavy commercial vehicle market. This market is up 3.5% from last year, with the sale of 22,352 units.
Even though petrol and diesel vehicles continue to lead overall, electric, hybrid, and plug-in hybrid vehicles were the only ones to post significant growth compared to 2021.
Despite the declining new vehicle sales across the board, the market remains very strong. In fact, the year-to-date performance is only down 4%. Moreover, having sold 1,049,831 vehicles in 2021, we are on track to hit the 1,000,000 mark by the end of the year.
However, the ongoing chip shortage and the Russia/Ukraine war continue to exacerbate global supply chain problems. In fact, some experts are predicting that these issues could continue to the end of 2022 and beyond.
Despite all this, the Australian automotive industry has historically been strong and has weathered many storms. Globally, McKinsey expects the automotive market to continue growing, albeit at a slower pace.
We believe the same underlying trends highlighted in this mid-year report's car sales data will become stronger in the near future:
Of course, things could change much sooner. If the pandemic has taught us anything, it's that markets could shift in days. So if your dealership is going to ride the next wave, you need accurate, on-demand automotive business intelligence and car sales data to help you make the right decisions.
Let SalesLogs's automotive business intelligence software give your dealership a solid advantage for the future. Book a demo today to learn more about our solution's unique capabilities for car dealerships.
From the state of the stock market to manufacturer competition, dealerships face external factors that cut profit margins and impact long-term viability. In thi...
I was once told that I could sell "Ice to an Eskimo", referring to our product as something the end user should handle independently.
I wasn't sure whether to...
Altered or poorly maintained deal logs can wreak havoc on your dealership, costing you valuable time, money, and even employee morale. In this post, we'll break...
The car business moves fast, and staying ahead of the curve requires mastering your time. Whether you're a sales manager, finance or aftermarket manager, or a s...
The automotive industry in 2024 is evolving rapidly, presenting new challenges for automakers and dealerships alike. One of the most significant shifts has been...
Key performance indicators (KPIs) measure progress towards a specific goal. Auto dealerships can use multiple KPIs to measure and monitor business performance i...
A huge component of successful car dealerships is a showroom that best represents the dealership's brand and inventory. To optimise the customer experience and ...
Despite the impact caused by COVID-19, the economy is recovering. The pandemic disruption affected almost every facet of the auto industry, causing rampant auto...
To improve your processes and grow your revenue, you first need a clear picture of how your car dealership is performing. Because data never lies, dealers are a...
©Copyright 2005-2024 SalesLogs Pty Ltd - All rights are reserved
Privacy Policy | Terms of Use