The Federal Chamber of Automotive Industries (FCAI) reported there were 92,347 new vehicle sales in April compared to 38,926 sales in the same period last year. 

Last year's figure was heavily affected by the pandemic, but the FCAI noted last month's result was also 22% higher than April 2019 when 75,550 vehicles were sold.

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 TagsRow TagsFeaturesLinkComparePromoted ProductDisclosure
6.59% p.a.
7.72% p.a.
$588
Fixed
New
No Max
$8
$400
$35,295
  • Demo vehicles accepted up to 7,500km
  • 3-7 year loan terms available
  • Balloon option available for fixed rates
 Disclosure
6.57% p.a.
7.19% p.a.
$588
Fixed
New
No Max
$0
$250
$35,278
  • No vehicle age limit
  • No ongoing or early exit fees
  • 1-7 years loan terms. Pay monthly, fortnightly, or weekly
 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!
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 Disclosure
5.66% p.a.
6.45% p.a.
$575
Fixed
New, Used
No Max
$0
$275
$34,515
5.99% p.a.
6.34% p.a.
$580
Fixed
New
No Max
$0
$250
$34,791
6.25% p.a.
6.52% p.a.
$583
Fixed
New
No Max
$0
$195
$35,009
6.49% p.a.
6.84% p.a.
$587
Fixed
New, Used
No Max
$0
$250
$35,211
6.49% p.a.
7.90% p.a.
$587
Fixed
New, Used
No Max
$15
$250
$35,211
6.29% p.a.
6.72% p.a.
$584
Fixed
New
No Max
$0
$0
$35,042
7.99% p.a.
8.99% p.a.
$608
Fixed
New, Used
No Max
$9
$265
$36,489
7.99% p.a.
8.27% p.a.
$608
Fixed
New
No Max
$0
$200
$36,489
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  • $5,000 to $150,000 loan amount
  • Redraw facility available up to $5000/day
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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.

Important Information and Comparison Rate Warning

Year to date, sales were up 30.7% compared to 2020, with 355,995 sales this year compared with 272,287 in 2020 with growth recorded in all segments.

FCAI chief executive, Tony Weber, said he expected the strong growth in sales to continue as the year progressed. 

“New vehicles sales are a direct reflection of the performance of the broader economy in terms of consumer and business confidence,” Mr Weber said.

“This time last year we were seeing significant impacts from COVID-19 with less customer activity and inquiries to dealerships.

“Historically the April result is between 70,000 and 80,000 vehicles, so the 2021 result is very significant.

"This sales trend is expected to continue as we enter the final two months of the financial year.

The Sports Utility vehicle market saw the strongest growth in April, up by 31,154 new sales (172.9%), followed by the Light Commercial Market (172.9%), and the Passenger Vehicle market (97.2%).

Toyota was the market leader (20,208) followed by Mazda (10,052), Mitsubishi (7,513), Ford (7,146) and Hyundai (5,772).

Ford Ranger was the top-selling individual model (5,021) followed by the Toyota RAV4 (4506), Toyota Hi-Lux (4222), Toyota Landcruiser (3,177) and Mitsubishi Triton (2,458).

Suez Canal blockage causes supply issues 

Mr Weber noted there had been difficulties in getting new vehicles to Australia as a result of the Ever Given cargo ship blocking the Suez Canal in Egypt. 

“Every vehicle company is focused on solving the issues caused by these impacts and they are working with customers to keep them fully informed regarding supply issues and delivery dates.

"It is possible there is pent-up market demand which may be reflected in sales figures in the second half of 2021 as solutions are found to these issues." 

He added there had been an increase in sales for rental vehicles across all segments, in what would be welcome news for the suffering tourism industry. 

"Growth in rental fleets will be an important building block supporting the recovery of the tourism industry across the country," Mr Weber said. 

Photo by Kyle Grozelle on Unsplash