Utes, SUVs dominate in car sales rebound

author-avatar By on January 06, 2021
Utes, SUVs dominate in car sales rebound

According to the latest data, December added to November's new car sales rebound, posting sales 13.5% higher than December 2019.

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.

Lender
Advertised rate Comparison rate Monthly repayment Interest TypeVehicle TypeMaximum Vehicle AgeOngoing FeeApplication FeeTotal RepaymentEarly RepaymentInstant ApprovalOnline Application
FixedNew1 yearMore details

Green Car Loan

FixedNew, Used99 yearsMore details
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  • No extra repayment or early exit fees
  • Up to $75,000 in loan amounts
  • Funding approved within 24 hours
APPLY ONLINE
FixedNew4 yearsMore details
GET APPROVED WITHIN 24 HOURS

Car Loan (New and Dealer Used) (< 5 years)

  • Approval in 24 hours
  • Balloon options to reduce repayments
  • No ongoing fees, no discharge fee
GET APPROVED WITHIN 24 HOURS

Car Loan (New and Dealer Used) (< 5 years)

  • Approval in 24 hours
  • Balloon options to reduce repayments
  • No ongoing fees, no discharge fee
FixedNew2 yearsMore details
QUICK APPLICATION PROCESS WITH NO FEES

New Vehicle Fast Loan Low Rate

  • Quick application process and no monthly fees
  • Low fixed interest rates with terms of up to seven years
  • New car loans cover cars up to 3 years old
QUICK APPLICATION PROCESS WITH NO FEES

New Vehicle Fast Loan Low Rate

  • Quick application process and no monthly fees
  • Low fixed interest rates with terms of up to seven years
  • New car loans cover cars up to 3 years old
FixedNew1 yearMore details
No ongoing fees

Plenti Car Loan

No ongoing fees
FixedNew, Used7 yearsMore details
No ongoing fees

Plenti Car Loan (Refinance)

No ongoing fees

Rates based on a loan of $30,000 for a five-year loan term. Products sorted by advertised rate. Rates correct as of October 18, 2021. View disclaimer.

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

Disclaimers

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered which includes retail products from at least the big four banks, the top 10 customer-owned institutions and Australia’s larger non-banks:

  • The big four banks are: ANZ, CBA, NAB and Westpac
  • The top 10 customer-owned Institutions are the ten largest mutual banks, credit unions and building societies in Australia, ranked by assets under management in November 2019. They are (in descending order): Great Southern Bank, Newcastle Permanent, Heritage Bank, Peoples’ Choice Credit Union, Teachers Mutual Bank, Greater Bank, IMB Bank, Beyond Bank, Bank Australia and P&N Bank.
  • The larger non-bank lenders are those who (in 2020) has more than $9 billion in Australian funded loans and advances. These groups are: Resimac, Pepper, Liberty and Firstmac.
  • If you click on a product link and you are referred to a Product or Service Provider’s web page, it is highly likely that a commercial relationship exists between that Product or Service Provider and Savings.com.au

Some providers' products may not be available in all states.

In the interests of full disclosure, Savings.com.au, Performance Drive and Loans.com.au are part of the Firstmac Group. To read about how Savings.com.au manages potential conflicts of interest, along with how we get paid, please click through onto the web site links.

*The Comparison rate is based on a $30,000 loan over 5 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

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author-avatar
Harrison is Savings.com.au's Assistant Editor. Prior to joining Savings in January 2020, he worked for some of Australia's largest comparison sites and media organisations. With a keen interest in the economy, housing policy, and personal finance, Harrison is passionate about breaking down complex financial topics for the everyday consumer.

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