VFACTS January 2024: Record start to the year but slower times ahead

AutoExec Summary
The Australian automotive industry had a strong start in 2024, with 89,782 new vehicles delivered in January, driven by increased demand for hybrid vehicles. However, the industry has warned that economic conditions could impact future sales. SUVs accounted for 55.5 per cent of total sales, with Toyota leading the market. Electric vehicle sales plateaued, while petrol vehicle sales decreased. The Federal Chamber of Automotive Industries expressed concerns about the government’s New Vehicle Efficiency Standard. The Ford Ranger remained the top-selling model. Sales were up in most states, with hybrid vehicles seeing the greatest growth.

Brands mentioned: Toyota, Mazda, Ford, Kia, Hyundai, Mitsubishi, MG, Isuzu Ute, GWM, Subaru, Volkswagen, Nissan, LDV, BMW, Suzuki, Mercedes-Benz, Honda, BYD, Tesla, Audi, Lexus, Chery, Volvo Car, Land Rover, Porsche, Skoda, SsangYong, Renault, Ram, Chevrolet, Jeep, Mini, Polestar, Cupra, Peugeot, Fiat, Genesis, Alfa Romeo, Jaguar, Maserati, Bentley, Ferrari, Lamborghini, Lotus, Aston Martin, Citroen, Dodge, McLaren, Rolls-Royce