Australia recorded 98,328 new vehicle sales in August, marking the second-best August performance on record, despite a 10.6% decline compared to the same month last year, according to the Federal Chamber of Automotive Industries.
FCAI CEO Tony Weber highlighted the significance of the results, noting that while the numbers are down from the exceptional August 2023, this year's performance is still historically strong.
"This is the second-highest August ever in Australia," Weber said, emphasising the resilience of the market despite ongoing economic pressures, including rising interest rates and cost-of-living challenges. Year-to-date, the market has seen a 5.3% increase.
Consumer preferences continue to shift, with the passenger segment accounting for only 15.4% of the total market.
SUVs dominated with 57.5% of sales, while light commercial vehicles made up 22.9%, together comprising over 80% of the market.
Low-emission vehicles saw significant growth, with hybrid sales up 44.9% from August 2023, and plug-in hybrid sales surging 119.8%.
However, battery electric vehicle sales remain underwhelming despite increased availability in the market.
Toyota maintained its position as the market leader with 21,490 sales in August, followed by Ford (8,890), Mazda (8,263), Kia (6,903), and Hyundai (6,211).
The Toyota RAV4 was the top-selling vehicle, with 6,712 units sold.
Regionally, vehicle sales declined across all states and territories, with the Australian Capital Territory experiencing the sharpest drop at 21.9%.
New South Wales saw a 13.9% decrease, while Victoria and Queensland recorded declines of 10.6% and 7.5%, respectively.
Overall, the August market showed a decline of 11,638 units compared to the previous year.
Sales of passenger vehicles, sports utility vehicles, and light and heavy commercial vehicles all saw reductions, contributing to the overall market decrease.