Remember when electric vehicles were going to ruin the weekend? Well, I guess with rising interest rates no one can afford weekend adventures anymore because everyone is buying a Tesla Model Y.
Well, maybe not everyone. But so far in 2023, the Tesla Model Y is the top selling medium SUV with 14,002 deliveries compared to the Toyota RAV4 with 13,523. And medium SUVs is the most popular new car segment growing faster than dual cab 4X4 utes.
In the June VFACTS announcement, Australian customers took delivery of 124,926 new vehicles to mark the end of the 2022-23 financial year.
This result is an increase of 25% compared with June 2022 and an 8.2% increase compared with the six-month period of January to June 2022. It is the highest June result since 2018.
Fleet buyers are seeing the benefits with a YTD increase of 11.8% compared to 2022 and stories of Hilux 4×4 dual cabs being delivered within three months of an order being placed.
Traditionally fleet buyers purchased 50% of all new cars sold in Australia. It has been slightly lower in recent years as manufacturers leaned into higher margin retail business with their limited supply. So far in 2023, the fleet industry has purchased 45% of all new vehicles and fleet buyers will continue to take a greater share with massive order pipelines waiting to be filled and slowing consumer demand.
FCAI Chief Executive Tony Weber said the continuing sales growth was encouraging, especially considering the ongoing issues relating to vehicle supply.
“The end of the financial year has traditionally been a strong month for vehicle sales,” Mr Weber said. “Indications from our members are that demand for new vehicles remains solid, but the supply is not yet at a point to meet this demand. To put it simply, if we could have landed more vehicles, this would have been a record June result.”
“Also, we will monitor the broader economic conditions and their potential to impact on vehicle purchasing decisions by fleets, businesses and families during the second half of this year,” he said.
Sales of zero and low-emission vehicles continued to grow with 16.6% being battery electric, hybrid or plug-in hybrid models. Battery electric vehicles accounted for 8.8% of June sales and make up 7.4% of new vehicle sales during the first half of 2023. The Tesla Model Y recorded 5,560 sales, making it the second-highest-selling vehicle behind the Toyota Hi-Lux (6,142).
“The early adopters of the new powertrain technology continue to push up the sales of electric vehicles across the country,” Mr Weber said.
Toyota led the market with a total of 20,948 vehicles sold. Mazda recorded 9,706 sales followed by Hyundai (8,215), Ford (7,753) and Kia (7,551). Tesla sold 7,018 electric vehicles with two models.
The top five models in June 2023 were:
- Toyota Hilux – 6,142
- Tesla Model Y – 5,560
- Ford Ranger – 5,334
- MG ZS – 3,756
- Toyota RAV4 – 2,858
