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Another record month of new vehicle sales shows market rebounding: Top car loans for August

Alex Ritchie avatar
Alex Ritchie
- 2 min read
Another record month of new vehicle sales shows market rebounding: Top car loans for August

July recorded its highest result for new vehicle sales on record, according to the Federal Chamber of Automotive Industries (FCAI). A total of 96,859 new vehicles were delivered to Australian customers.

This figure is an increase of 14.7% year on year, breaking the previous July sales record of 92,754 vehicles in 2017. 

Global supply chain delays and issues for microprocessor units were previously blamed for the COVID era of new vehicle delays, as well as the sharp rise in used car prices. However, July’s record month of sales may indicate that the new car market is finally on the mend.

FCAI Chief Executive Tony Weber said: “During the past twelve months the issue has been one of securing supply for consumers, however as these pressures ease, we are starting to see a return to more stable market conditions.”

“Many of these vehicles were ordered several months ago, so it is important to monitor the broader economic conditions through 2023 and their impact on private and business demand,” Mr Weber said. 

Mr Weber added that sales in the passenger vehicle segment remained at an historically low level, however many of these sales have transitioned into the SUV category. 

Highest selling car manufacturers - July 2023

  • Toyota - 19,191 vehicles sold
  • Mazda - 8,307 vehicles sold
  • Ford - 7,109 vehicles sold
  • Hyundai - 6,521 vehicles sold
  • Kia - 6,150 vehicles sold

Highest selling car models - July 2023

  • Ford Ranger - 5,143 vehicles sold
  • Toyota Hi-Lux - 4,670 vehicles sold
  • MG ZS - 3,853 vehicles sold
  • Tesla Model Y - 3,330 vehicles sold
  • Toyota RAV4 - 2,750 vehicles sold

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Product database updated 14 Jun, 2024

This article was reviewed by Personal Finance Editor Peter Terlato before it was published as part of RateCity's Fact Check process.

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