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The Federal Chamber of Automotive Industries (FCAI) has this week revealed new vehicle sales figures for October 2020 – and signs suggest that the market might finally be rebounding after a turbulent 2020.

Total sales for the month were 81,220, down just 1,236 units or 1.5 per cent from October 2019 when 82,456 vehicles were sold. Tony Weber, chief executive of the FCAI, said the results were welcome news for the automotive industry.

“After a very challenging year, we are seeing ‘green shoots’ in the Australian new vehicle market. Every state and territory except Victoria and Tasmania have seen significant growth and, given the circumstances, Victoria’s result is seen as encouraging,” Mr Weber said.

Year to date figures reflected the difficult times the industry has experienced during 2019 and 2020. For the period from January to October 2020, new vehicle sales totalled 726,111. This represents a decrease of 18.8 per cent when compared to the same period in 2019 when 893,920 sales were reported.

“These results mark the 31st month of decreasing sales for the industry, which has experienced a series of financial and market challenges during the period,” Mr Weber said.

“However, the green shoots that we are seeing in October give us great hope that we may begin to see further recovery during the coming months.

“Nationally, the state of industry operations is returning to normal as COVID-19 restrictions ease. Additionally, Government initiatives such as a constructive budget that included the instant asset write off, along with more accessible finance for consumers, is also acting as a welcome stimulus for the industry.

“Electrified vehicles also experienced a surge during the month, more than doubling in their total sales compared to October 2019. This shows that Australian consumers are willing to explore new drive train technologies,” Mr Weber said.

During the month 17,794 Passenger Vehicle were sold, representing 21.9 per cent of the total market, down 24.5 per cent from October 2019. SUVs claimed 50.8 per cent of the market with a total of 41,220 sales, up 6.7 per cent from October 2019. Light Commercial vehicles claimed 23.6 per cent of the market with 19,152 sales, up 11.6 per cent from October 2019.

Toyota was the top selling brand for the month, with 19,505 sales, followed by Mazda with 7,457 sales, Hyundai with 5,951 sales, Ford with 5,744 sales and Kia with 5,304 sales.

The top five selling models for the month were the Toyota Hi Lux with 4,444 sales, the Ford Ranger with 4,217 sales, the Toyota RAV4 with 4,084 sales, the Toyota Landcruiser with 2,429 sales and the Toyota Prado with 2,207 sales.