Stock Shortages Bring October 2021 Car Sales to a 19-Year Low

By November 4, 2021 News
car sales

New car sales in Australia have slowed in October 2021 with 74,650 vehicles sold, an 8.1 percent decrease (6,750 units) from the same period last year. This is reportedly the weakest October since 2002

According to the recent VFACTS report released by the Federal Chamber of Automotive Industries (FCAI), this can be attributed to the challenges manufacturers are facing with global supply chains.

“Automotive manufacturers like all those in the global manufacturing sector are dealing with a microprocessor shortage which is leading to longer wait times to get products to market. Australians are continuing to purchase vehicles, and carmakers are working to deliver products to our shores,” FCAI Chief Executive Tony Weber said in a media release.

Sales in the Australian Capital Territory were down 22.3% (1,113 units sold from 1,433) on October 2020. Western Australia recorded a decrease in sales of 15.4%(7,386 units sold from 8,732), followed by the Northern Territory with a decline of 12.4% (642 units sold from 733) in vehicles sold.

NSW recorded a fall of 12.2 % (24,380 units sold from 27,759) and South Australian figures were down 11.9% (4,948 units sold from 5,614)compared to the same month last year.

Queensland recorded 10.3% (16,159 units from 18,012), less vehicles sold on October 2020 figures. Tasmania recorded a decrease of 1.6% (1,321 units from 1,343) vehicles sold. Only Victoria saw an increase of 6.3% on last year’s figures (18,701 units from 17,594).

The Passenger Vehicle Market is down by 1,842 vehicle sales ( down 10.4%) over the same month last year while the Sports Utility Market is down by 5,877 vehicle sales (down14.3%). The Light Commercial Market is up by 192 vehicle sales (up 1.0%). Meanwhile, the Heavy Commercial Vehicle Market is up by 957 vehicle sales ( up 31.3%) versus October 2020.

Toyota was market leader in October 2021 (15,295 units sold) at 20.6 percent market share. This is followed by Hyundai (6115 units sold) at 8.2 percent market share and Ford (5,462 units sold)  at 7.3% market share.