The number of vehicles listed for sale in Australia has increased despite a slight decrease in the number of used cars sold in February according to the latest figures from the Australian Automotive Dealer Association (AADA).
“A strong start to 2024 new car deliveries is flowing down into the used car market, with a slight rise of 1.3 percent in the number of vehicles listed for sale in the month,” according to a statement released by the AADA.
“While listings increased, sales of used cars dropped by 1.2 percent from the previous month,” they added.
Sales Figures and Market Dynamics
Across the nation, a total of 286,329 vehicles were listed for sale during February, with 179,448 units sold.
Notably, the top-selling cars in the used market remained largely consistent with the previous month’s rankings. The Ford Ranger retained its top spot, followed closely by the Toyota Hilux,
The time it takes to sell a used car also declined slightly. The average duration decreasing to 44 days in February, down from a peak of 52 days in November.
Across the States
New South Wales (NSW) recorded the greatest number of used cars sold at 52,038 units followed by Queensland (QLD) with 39,122 units sold.
Australia (WA) saw 24,082 used cars changing hands, while South Australia (SA) witnessed 11,702 sales.
Tasmania experienced a notable 9.3% drop in sales, with 4,127 vehicles sold. The Australian Capital Territory (ACT) and Northern Territory (NT) reported 3,366 and 1,479 sales, respectively.
Sales by Vehicle Type and Fuel Type
Passenger cars accounted for the highest number of used car sales, followed by SUVs, Utes, and Vans/buses.
Electric vehicles (EVs) experienced the largest rise in sales, with a 7.1 percent increase in February.
Petrol vehicles saw a slight decline, while diesels and hybrids recorded modest gains. LPG-powered vehicles continued to outsell plug-in hybrids on the used market.
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