For operators looking to upgrade as car stocks ease and sales soar, Business Finance provides lower rates on all options for financing best selling vehicles. From the latest record breaking sales figures, it appears that many individuals and businesses are getting behind the wheel of their new drives. The FCAI (Federal Chamber of Automotive Industries) reports yet another sales record for the month of August.
The August 2023 results were the highest for an August and an encouraging 15.4% above the sales posted for August 2022. While the sales results are extremely beneficial for manufacturers and car dealers, for buyers, the impressive figures can mean better availability of vehicles after extended stock shortages. A welcome situation for business owners that have been wanting to upgrade their vehicles.
The monthly vehicle sales results are interesting reading for motoring enthusiasts in general and for buyers that are keen to know where stock may be available and what other buyers have decided are the best buys. The FCAI reports not only figures, but the leading best sellers by brand, by overall models and in a number of key categories.
August Vehicle Sales Overview
In announcing the August VFACTS, Tony Weber of the FCAI, reported back-to-back months of records in sales results. The result for the month was considered unprecedented as Mr Weber noted the improving situation with supply along with the continued high demand from buyers. The month: month comparison is impressive, but Mr Weber pointed out the year-to-date (YTD) comparison as a preferable indicator of how strong the new car market is at present.
On a YTD basis, overall sales are up 9.9%. Of the total sales, hybrid vehicles comprise 10.5% of sales and EVs comprised 6.4%. Mr Weber noting the continued trend for Australian motorists to take up vehicles with lower emission tech.
Fending off sales drops, Toyota retains number one spot as Australia’s best selling vehicle brand with Mazda second and Ford third. The Ranger-HiLux competition for best selling vehicle overall has been a see-sawing battle. In August the Toyota came out in front, selling just 2 more vehicles than it’s Ford rival. For buyers, that could be a close call in deciding which to purchase.
When considering VFACTS data, appreciate that the figures only include the sales of new vehicles. They do not include used vehicles or order books. The figures are the actual number of vehicles which were handed over to owners in the period. With the wait lists and big order books held by dealers, many of the August sales will have gone to pre-orders. Keep that in mind and contact your local dealer for actual stock availability.
Best Selling Vehicles and Manufacturers
In the best selling vehicles overall for the month, the lack of significant Tesla sales/deliveries in August, there was a change in the rankings. HiLux was first and Ranger second, but the Toyota RAV4 ousted Tesla from third spot. Another ute, Isuzu’s D-MAX was fourth, then came MG ZS and the iconic Corolla, Tesla’s Y Model, Hyundai’s Tucson, the Outlander and finally Toyota’s Prado.
The leading brands in order of vehicles sold see Toyota and Mazda holding on to their top positions. Next came Ford, followed by Kia and Hyundai, then Mitsubishi and MG, then Tesla, followed by Subaru and Isuzu.
Best selling vehicles in key categories for business buyers included:-
- Passenger cars medium-sized, under $60k: Toyota Camry, Skoda’s Octavia, Mazda’s 6 model.
- Passenger cars medium-sized over $60k: Model 3 Tesla, BMW 3 Series, Polestar 2.
- Passenger cars large over $70k: Mercedes E Class, BMW 5 Series, Mercedes EQE.
- Medium sized SUV, over $60k: Model Y Tesla, NX from Lexus and CX-60 by Mazda.
- Large sized SUV, under $70k: Prado, Outback and Everest.
- Ute 4x2: Toyota Hilux, D-Max and Ford Ranger.
- Ute 4x4: Ford Ranger, Toyota HiLux and D-Max.
- Van under 2.5t: Peugeot Partner, VW Caddy and Renault Kangoo.
- 2.5t to 3.5t Vans: HiAce, LDV G10 range and Ford Transit.
Financing Best Selling Vehicles
Business owners have the choice of Leasing, new Business Car financing, Chattel Mortgage and Commercial Hire Purchase for financing their business vehicles. All options include tax deductions and we secure all with our low fixed interest rates with workable fixed terms of up to 7 years and with the balloon or residual options available.
Business Vehicle Loan Interest Rates
With rates kept steady by the RBA Board for September, no movement would be expected in the commercial vehicle finance market on rates. But rates will still vary across the market and with our large lender base, we remain well-placed and well-resourced to secure lower Business Vehicle rates across all loan categories.
Contact Business Finance on 1300 000 033 for finance on the latest best selling vehicles. 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.