However, January 2020's sales had an incredibly low floor, down about 15% from January 2019's sales, according to Federal Chamber of Automotive Industries (FCAI) figures released today.

There are still positive signs in last month's results, after some deep falls last year when the coronavirus took hold from March through June.

In total, 79,666 new cars were sold last month, with SUVs and light commercial vehicles - utes, vans - combining to make up nearly three quarters of all new vehicles sold. 

In the market for a new car? The table below features car loans with some of the lowest interest rates on the market.

Update resultsUpdate
Filters
LenderCar LoanInterest Rate Comparison Rate* Monthly Repayment Interest Type Vehicle Type Maximum Vehicle Age Ongoing Fee Upfront Fee Total Repayment Early Repayment Instant Approval Online Application TagsFeaturesLinkCompare
6.24% p.a.
7.36% p.a.
$583
Variable
New
1 year
$8
$400
$35,000
 Featured
  • Available for purchasing new and demo vehicles
  • $5,000 to $150,000 loan amount
  • Redraw facility available up to $5000/day
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
6.57% p.a.
7.19% p.a.
$588
Fixed
New
No Max
$0
$250
$35,278
Loan amounts from $2k to $75k
  • Available for any new motorised vehicle
  • No ongoing or early exit fees
  • 1-7 years loan terms. Pay monthly, fortnightly, or weekly
  • Get quick decision. Funds in 24 hrs if approved
6.99% p.a.
8.11% p.a.
$594
Fixed
New
1 year
$8
$400
$35,634
Approval within 24 hoursEarly payout available
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
7.29% p.a.
8.00% p.a.
$598
Fixed
New
2 years
$0
$499
$35,889
  • Available for purchasing new and demo vehicles
  • $5,000 to $150,000 loan amount
  • Redraw facility available up to $5000/day
  • Required: Good credit history, stable employment history. Aus citizenship or PR.

More details
Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates for car loans and secured personal loans for the relevant amounts and terms are for secured loans unless indicated otherwise. The comparison rates for unsecured personal loans are applicable for unsecured loans only. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of . View disclaimer.

Medium SUVs alone made up nearly one-fifth of all new vehicles sold, a class that includes the Nissan X-Trail, Mitsubishi Outlander, and Mazda CX-5.

Four-wheel drive crew-cab ute sales made up nearly all of the light commercial marketshare, too, accounting for one-sixth of total vehicles sold.

This segment includes the popular Toyota HiLux and Ford Ranger, which regularly hold top spot for overall makes and models sold, as seen in the table below.

Light commercial vehicles sold for business purposes outnumbered private sales at a rate of nearly two-to-one, even as incentives such as the increased instant asset write-offs ended.

However, overall, private sales led the charge, up 25.4% on the month, with business sales down 1.3%.

Alternative fuel vehicles continued to lag behind petrol and diesel sales, with just 296 electric vehicles sold in January.

However, this marks a 146.7% increase on January 2020's results, aided by relatively cheap electric vehicles such as the MG ZS (+327.6% on the month) hitting the market.

FCAI chief Tony Weber pointed to a rebound, coinciding with COVID restrictions easing.

"During the past three months sales had increased by 12.4% compared to the corresponding period twelve months earlier," he said.

"The January sales numbers are indicative of positive consumer confidence in the domestic economy. With attractive interest rates and a range of other economic indicators encouraging consumption, we hope to see this trend in new vehicle purchasing continue through 2021."

Top Ten Selling Vehicles, January 2021

Rank

Vehicle

January 2021 Volume

January 2020 Volume

Percentage Difference

1.

Toyota Hi-Lux

3913

2968

31.8%

2.

Ford Ranger

3120

2624

18.9%

3.

Toyota RAV4

3066

2290

33.9%

4.

Toyota Landcruiser

2388

1262

89.2%

5.

Mazda CX-5

2081

1859

11.9%

6.

Toyota Corolla

2062

2370

-13.0%

7.

Hyundai i30

1952

2038

-4.2%

8.

Mitsubishi Triton

1908

2075

-8.0%

9.

Isuzu Ute D-Max

1822

680

167.9%

10.

Nissan XTrail

1593

1467

8.6%

Source: Federal Chamber of Automotive Industries

Photo by Dylan McLeod on Unsplash



Ready, Set, Buy!


Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

With bonus Q&A sheet and Crossword!

Download Free
By subscribing you agree to our privacy policy