Australia's appetite for new cars show no signs of waning, as sales records continue to be broken.
The March result of 109,647 sales surpassed the previous March record of 106,988, which was achieved in 2018.
This is according to the latest figures released by the Federal Chamber of Automotive Industries (FCAI).
The January to March result of 304,452 sales represents the best ever first quarter for new vehicle sales, an increase of 13.2 per cent on the first quarter in 2023.
FCAI chief executive Tony Weber said that it was remarkable that nine of the past 12 months had seen the industry achieve record sales results. Since April 2023, the industry had delivered 1,252,230 new vehicles to the market.
"This is a terrific result for the sector however, all car brands are well aware that these results cannot be taken for granted," Mr Weber said.
"We need to factor in the ongoing cost of living pressures and the challenges for industry and consumers that will emerge with the introduction of the New Vehicle Efficiency Standard (NVES) in less than nine months."
The Ford Ranger was Australia's top selling vehicle with sales of 5661, followed by the Toyota RAV4 (5070), Tesla Model Y (4379), Toyota HiLux (3995) and Mitsubishi Outlander (2764).
Toyota remains the overall market leader with sales of 18,961, followed by Ford (8776), Mazda (8246), Mitsubishi (7866) and Kia (7070).
The SUV segment accounted for 58.9pc of sales while the passenger segment was down to 16.1pc compared with 2023 at 17.7pc. The light commercial segment fell to 21pc from 22.6pc.
Battery electric vehicles made up 9.5pc of new vehicle sales, up from 6.8pc in March 2023.
Hybrid and plug-in hybrid sales increased compared with March 2023, recording a 14pc share compared with 6pc in 2023.
March sales of electrified vehicles made up 23.5pc of the total market demonstrating the continuing evolution of technology and increasing consumer preference in response to the challenges of decarbonisation.
"A fuel efficiency standard is long overdue," Mr Weber said.
"However, we remain concerned at the speed and magnitude of the change for both manufacturers and more importantly, consumers.
"The car makers will respond, however it will take time to develop new products, especially in the large SUV and light commercial segments, that meet expectations in terms of price, performance and emissions, noting these vehicles make up more than one third of new vehicle sales in Australia.
"We look forward to working with the Government regarding the administration of the proposed NVES (New Vehicle Efficiency Standard) and the development of critical supporting activities such as the development of an effective national recharging network for electric vehicles."
Sales across every state and territory increased compared with March 2023 except for Tasmania which recorded a small decrease of 0.6pc (1610).
Sales in the Australian Capital Territory were up by 0.5pc (1584); New South Wales 11.7pc (33,808); Queensland 5.9pc (23,550); South Australia 6.9pc (6,992); Victoria 24.9pc (30,099); Western Australia 9.3pc (11,074) and Northern Territory 19.8pc (930).
Paula Thompson
Paula Thompson is ACM's National Machinery and Ag Tech writer. She has been an agricultural journalist for more than 20 years. Prior to her current role, she was a reporter with the Stock Journal, covering livestock markets and the grains industry.
Paula Thompson is ACM's National Machinery and Ag Tech writer. She has been an agricultural journalist for more than 20 years. Prior to her current role, she was a reporter with the Stock Journal, covering livestock markets and the grains industry.
