What's driving auto sales growth?
The 2015 calendar year was record breaking for new vehicle sales in Australia, with 1,155,408 new vehicles sold. This was an increase of 3.8% from 2014, equating to an extra 42,184 new vehicles sold.
The increase was supported by a strong sales quarter ending December 2015, with an extra 12,300 new vehicle sales than the quarter ending December 2014. It was further supported by the addition of new models to the market with improved performance and design attributes, in addition to the existing vehicle range, continuing to make Australia one of the most competitive new vehicle markets in the world.
All market segments, excluding passenger vehicles, increased with the total market increasing by 3.8% overall (YTD):
SUV sales have significantly risen in recent years, and 2015 has continued this trend. This vehicle type has remained popular and saw the highest growth in 2015, increasing its market share by 3.7% compared to 2014.
Despite the increase in SUV sales, however, the passenger vehicle continues to be the largest selling segment.
Although there has been an increase in new vehicle sales, local manufacturer sales have continued to fall, with a decrease of 3.0% from the same time last year, while imported vehicle sales have increased by 4.5%.
With 97,443 locally manufactured vehicles being sold in 2015, this is the first time since 1953 that Australian-made vehicle sales have sold below 100,000, with luxury vehicles company Mercedes Benz (22,817) selling more passenger vehicles in Australian than Ford (19,817). The luxury vehicle market has strengthened during the 2015 calendar year with sales in Ferrari, Maserati, Aston Martin, Porsche, BMW, Mercedes Benz and Jaguar all increasing.
Toyota continues to hold the largest market share at 17.8%, followed by Mazda (9.9%) and Holden (8.9%).
The Toyota Corolla was once again the top selling vehicle for December 2015 YTD, with 42,073 sales, which was assisted by upgrades throughout the year including options such as reversing camera as a standard feature across the range and improved interior and exterior design. The Mazda 3 continued to perform strongly with 38,644 sales while the Toyota Hilux rounds out the top 3 selling vehicles, with 35,161 sold throughout the 2015 calendar year.
Across the Australian states and territories, the changes for the December 2015 YTD were as follows:
For further details, please contact Brett Fowler, Partner at ShineWing Australia.