In strong July sales the best selling cars were the Toyota RAV4, HiLux and Tesla Model Y, BEVs now 21.7% of total sales and Chinese brands increasingly popular. For businesses looking to upgrade their vehicles, the recent sales figures and trends can provide a place to start considering which makes and models to buy.
The trend that emerged in the past few months due to the fuel crisis is electrified vehicles. The sales of battery-electric accounted for 21.7% of July new car sales and the total of BEVs, PHEV and HEV is now 48.4%. Also trending are the Chinese brands. Five of the 10 top selling models for the month are Chinese with BYD coming in at second top selling brand behind Toyota. In a strange twist the ute market has seen a dipped with only all-time favourites HiLux and Ranger making the top 10.
While popularity and what others are buying can assist with buying decisions, for commercial operators, key to any major acquisitions is the cost – the price of the vehicle and the business vehicle finance. To guide business owners looking to upgrade ageing vehicles, we cover off on the latest sales figures and financing opportunities we offer.
Best Selling Cars – July Sales Figures
The FCAI reports the strongest July sales figures on record and a strong trend towards battery electric vehicles. Tony Weber, FCAI Chief Executive, said that the strong sales showed ‘extraordinary resilience’ in the market with Australians facing cost-of-living issues.
The one issue that Mr Weber notes with the fast rise in EV sales is that it may outpace the availability of publicly available charging infrastructure. For business owners considering going electric, this comment may be a sign to also consider installing charging facilities at your premises. We may provide financing for this type of equipment with asset acquisition credit facilities. The top 10 selling brands for the month were Toyota, BYD, Kia, Mazda, Ford, Hyundai, Tesla, Chery, GWM and MG. In sales for the year to date, the top 3 brands are Toyota, BYD and Ford.
Latest Best Selling Cars, Utes, Vans
When it comes to the individual models that sold the best, Toyota is on top with its RAV4 and HiLux, followed by Tesla’s Model Y. Then comes the Ford Ranger, BYD Sealion 7, Chery Tiggo 4, Hyundai Kona, Toyota Prado, Geely EX5 and Zeekr 7X.
For operators looking for real workhorses, the top 3 selling 4x2 utes were the HiLux, Isuzu D-Max and Mitsubishi Triton. In the larger ute category – 4x4s under $100,000, top sellers were HiLux, Ranger and D-Max.
Light commercial sales have dipped lately with a very small number of units sold in the under 2.5t van segment. The models that did sell most were the VW Caddy, Peugeot Partner and Renault Kangoo. In the 2.5t to 3.5t segment the HiAce, Hyundai Staria Loan and LDV Deliver 7 sold the most units in July.
Passenger car sales have been dropping for some time with the increasing popularity of SUVs. For many businesses, an SUV can present a versatile vehicle to cover off on private and work travel with space for stock, materials and gear. Best-selling SUV models across the multiple light-upper large categories include Mazda CX-3, Kia EV3, Rav4, Prado, Land Rover Defender, LandCruiser, Ford Everest, Lexus GX and Nissan Patrol.
Business Vehicle Finance Options
When comparing the makes and models use our Vehicle Finance Calculator to work up estimated repayments on your preferred financing product. Vehicles used in a commercial operation may be financed with Chattel Mortgage, Lease or Commercial Hire Purchase. Each with varying features to suit the different accounting methods and approaches to balance sheet and tax deductions.
Different interest rates apply with CHP and Chattel Mortgage offering the lowest business vehicle finance rates across the market and Lease slightly higher. All rate offers are based on the individual assessment of the application, use our advertised rates as a guide for calculating estimates and request your specific quote for an exact figure to work on.
These same asset acquisition credit facilities can be used to finance the purchase of EV charging facilities at a business premises.
Alert – EV Road User Charge Ahead
One upcoming issue which may dampen the enthusiasm for EVs is an expected EV road user charge. This charge has been in the conversation by governments for some time. With diesel and petrol vehicles, the tax on fuel goes towards road repairs and other works. With EVs not subject to this fuel tax and with the rise in EV sales, less funds are available for roads.
The EV road user charge is intended to balance the scales. Recent reports have the Federal Minister for Climate Change and Energy, Chris Bowen, confirming that such a charge is on the road ahead. No specific details on how much and when it will happen are available, but it is expected.
To discuss the right business loans for your expenses, connect with Business.Finance brokers 1300 000 033.
DISCLAIMER: THE SPECIFIC PURPOSE IN PROVIDING THIS ARTICLE IS FOR GENERAL INFORMATION ONLY. IT IS NOT INTENDED AS THE SOLE SOURCE OF FINANCIAL INFORMATION ON WHICH TO MAKE BUSINESS FINANCE DECISIONS. BUSINESS OWNERS WHO REQUIRE ADVICE OR GUIDANCE AROUND THEIR SPECIFIC FINANCIAL CIRCUMSTANCES ARE RECOMMENDED TO CONSULT WITH AN ADVISOR OR ACCOUNTANT. NO LIABILITY IS ACCEPTED IN REGARD TO ANY MISREPRESENTATIONS OR ANY ERRORS RE ANY DATA, SPECIFICS, POLICIES AND OTHER INFORMATION AS SOURCED FROM OTHERS.
