Top Trending Vehicles in May 2023

Australian Car Sales Surge as Backorders are Fulfilled, While New Car Enquiries Decline. According to recent data released by the Federal Chamber of Automotive Industries, the Australian car market experienced a record number of vehicle sales last month.

In May 2023, a total of 105,694 new cars were reported as sold in Australia, marking a 12% increase compared to the same period last year. This figure also represents a 2.7% rise since the previous May record set in 2017. It's important to note that this spike in sales is largely attributed to dealers fulfilling orders that were placed several months or even years ago, rather than a sudden influx of new deals.

Despite facing challenges related to production interruptions and shipping bottlenecks, Toyota, the leading Japanese car manufacturer, continues to maintain its market dominance in Australia for the 20th consecutive year. However, the company has experienced a decline in sales as it struggles to meet the high demand and clear the backlog of customer orders. Models such as the Toyota RAV4, Toyota Camry, and Toyota HiAce van have wait times ranging from six months to two years.

Toyota HiLux and Ford Ranger

Interestingly, the Toyota HiLux, a popular utility vehicle, regained its position as the best-selling vehicle in Australia for both the month of May and year-to-date. It had briefly lost the top spot to the Ford Ranger ute from January to April 2023, marking the longest losing streak for the Toyota HiLux in their ongoing sales battle since 2015.

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Tesla Model Y 

The Tesla Model Y electric car claimed the third position in May 2023, surpassing the Toyota RAV4. This marks the fifth time since its introduction in August 2022 that the Tesla Model Y has secured a spot in the top 10 sales rankings. The electric vehicle segment accounted for 7.7% of the new cars reported as sold last month and represents 7% of the overall market tally year-to-date.

The Australian car market experienced a significant surge in sales last month, driven by dealers fulfilling backorders that had accumulated over months and even years. The industry has shown resilience in maintaining positive growth despite multiple interest rate hikes. Toyota, despite facing production and shipping challenges, continues to hold its position as the market leader, while the Toyota HiLux reclaimed its spot as the best-selling vehicle.

Electric cars also gained traction, accounting for a notable portion of the market. It remains to be seen how Nissan and Honda will recover from their recent setbacks, and dealers urge potential buyers to consider their personal eligibility and consult with professionals to maximise tax deductions. As the Australian car market continues to evolve, it will be interesting to observe how the competition unfolds and which trends shape the future of the industry.

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