The Federal Chamber of Automotive Industries' (FCAI) 'VFACTS' report shows there were 95,652 new cars sold in December.

This adds to November's rebound of 12.4%, however the 2020 calendar year was still 13.7% down compared to 2019.

SUVs continued to dominate in 2020, claiming 49.6% market share, which when combined with light commercial (utes, vans), make up nearly three quarters of all new car sales.

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

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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 TagsFeaturesLinkComparePromoted ProductDisclosure
5.99% p.a.
7.12% p.a.
$580
Variable
New
No Max
$8
$400
$34,791
  • 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.
 Disclosure
6.52% p.a.
6.95% p.a.
$587
Fixed
New, Used
No Max
$0
$350
$35,236
  • A leading Australian Finance Broker with proven experience you can trust
  • We've assisted more than 150,000 customers access over $8 billion in finance!
  • We are the experts at getting the keys in your hands
 Disclosure
6.28% p.a.
6.28% p.a.
$584
Fixed
New
No Max
$0
$0
$35,034
  • No vehicle age limit
  • No ongoing or early exit fees
  • 1-7 years loan terms. Pay monthly, fortnightly, or weekly
 Disclosure
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.

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Seven of the 10 top selling vehicles for the year were SUVs or light commercial vehicles (LCVs).

The top ten selling vehicles for 2020 were:

  1. Toyota HiLux (45,176 sales)
  2. Ford Ranger (40,973)
  3. Toyota RAV4 (38,537)
  4. Toyota Corolla (25,882)
  5. Toyota Landcruiser (25,142)
  6. Mazda CX-5 (21,979)
  7. Hyundai i30 (20,734)
  8. Mitsubishi Triton (18,136)
  9. Toyota Prado (18,034)
  10. Kia Cerato (17,559)

For December, the growth in car sales was led by SUVs and LCVs - up 24.1% and 21.6% respectively when compared with December 2019.

In contrast, passenger vehicles (sedans, hatchbacks) were down 11.1%.

For December, just two passenger vehicles made the top ten list - the Corolla and i30.

More SUVs and LCVs nudged their way in the top ten for the month - the Isuzu D-MAX and the Nissan XTrail - aided by new model releases in 2020.

  1. Toyota Hi-Lux (5,572 sales)
  2. Ford Ranger (4,265 sales)
  3. Toyota Landcruiser (3,562 sales)
  4. Toyota RAV4 (3,542 sales)
  5. Toyota Corolla (2,516 sales)
  6. Toyota Prado (2,500 sales)
  7. Isuzu Ute D-Max (2,409)
  8. Mazda CX-5 (2,060 sales)
  9. Hyundai i30 (1,996 sales)
  10. Nissan XTrail (1,822 sales)

New car sales data corroborates what has been seen in the used car market, with prices for used SUVs and utes being up to 45% higher than they were in 2019.

The positive turnaround in the new car market is a "great relief" according to FCAI chief Tony Weber.

“COVID-19 has brought a health crisis and a corresponding economic crisis to the world during 2020,” he said.

“And along with the rest of Australia, automotive brands and their dealer networks have found the last twelve months an extremely challenging period.

“The automotive industry in Australia accounts for more than 60,000 employees, with over 4,000 dealerships across the country. The contribution made by these businesses is critically important to the economic wellbeing of communities across Australia."

Photo by Brad R on Unsplash

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