It would appear that demand for new vehicles is continuing to grow, with last month’s new vehicle sales figures reaching the highest level on record for the month of April.
Data released by the Federal Chamber of Automotive Industries (FCAI) revealed that the total sales for the month of April 2021 were 92,347, while just 38,926 sales were recorded in the corresponding month in 2020.
These results also make April 2021 the sixth consecutive month of growth, following 31 months of declining figures.
FCAI’s chief executive, Tony Weber, said that confidence in the new vehicle market was high, and could be expected to continue to grow through the remainder of the year.
“New vehicles sales are a direct reflection of the performance of the broader economy in terms of consumer and business confidence,” Mr Weber said.
“This time last year, we were seeing significant impacts from COVID-19, with less customer activity and enquiries to dealerships.
“Historically, the April result is between 70,000 and 80,000 vehicles, so the 2021 result is very significant.”
According to Mr Weber, supply chain constraints – such as a shortage of semiconductors and shipping issues related to delays through the Suez Canal – were impacting the delivery of new vehicles to Australian customers.
“Every vehicle company is focused on solving the issues caused by these impacts, and they are working with customers to keep them fully informed regarding supply issues and delivery dates,” he said.
“It is possible there is pent up market demand which may be reflected in sales figures in the second half of 2021 as solutions are found to these issues.”
Meanwhile, the used car market has also seen a significant increase in demand, with wholesale used-vehicle prices 37 per cent higher in March than a pre-pandemic high set in February 2020.
Constrained new vehicle supply is seen as one of a range of factors influencing this increase.