New car sales figures have always been easy to retrieve due to the Federal Chamber of Automotive Industries (FCAI) gathering and releasing data. However, used car data hasn’t been as easy to acquire, until now.
The Australian Automotive Dealer Association (AADA) partnered with used car market data specialists AutoGrab to release for the first time the Automotive Insights Report (AIR), which provides an insight into the used car market.
“Prior to the release of AIR there has been no reliable and regular dataset for the used car market, even though more than 65 per cent of all cars purchased in Australia are used cars,” said AADA CEO James Voortman.
“The first edition of AIR shows that after a number of years of tight supply, Australia’s used car market is seeing increased levels of stock with increases in the time it takes to sell a car and a gradual decline in retained values.”
According to the AIR data, there were 303,732 vehicles listed for sale in Australia and a total of 206,417 cars were sold in November 2023. Used car sales accounted for over 65 per cent of total car sales last month. As a comparison, there were 112,141 new cars sold in the same period.
The majority of used cars sold were passenger cars (86,985) followed by SUVs in second (78,097) and utes in third (35,064).
Petrol was the leading fuel type with 135,141 sold, ahead of diesel with 62,813. Hybrid cars represented a fraction of all used car sales with 0.67 per cent (6,755).
The Ford Ranger and Toyota HiLux were the top two selling used cars last month with the Ranger coming out on top with 4,863 cars sold compared to 4,066 HiLuxs sold. In third was the Toyota Corolla (3,371) followed by the Hyundai i30 (2,624) and Mazda 3 (2,354).
The average sale time has grown from a minimum of 40.5 days in March 2023 to 52 days in November. Small cars like the Mazda 3 and Toyota Corolla had the quickest average sale times with 35.9 and 39.7 days respectively while the Toyota Prado had the slowest with 53.7 average days.
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