The demand for new vehicles for business and private use remains strong with a 2021 record number of 100,809 new vehicle sales being recorded in May.
The result this month surpasses the March result of 100,005 and has the industry on track to return to sales of more than one million new vehicles for the year. It shows an increase of 68.3 per cent on the corresponding month last year which was significantly impacted through COVID-19 lockdowns across the country. However, the 2021 result is an 8.9% increase on the May 2019 result of 92,561 vehicles.
The Federal Chamber of Automotive Industries Chief Executive Tony Weber said the result once again showed that confidence in the national economy and pent-up demand across all sectors were strong enough to counter issues related to COVID-19 uncertainties and supply chain issues.
“While we cannot be certain about the future economic impacts of the COVID-19 situation, businesses and households are showing their confidence by purchasing new vehicles.
“I expect this situation will continue to improve in the second half of this calendar year as confidence continues to grow, coupled with incentives such as the extension of the depreciation allowance for business which was announced in the Federal Budget during the month.
Mr Weber added that the Rental segment continued to grow with the year to date result up 69.4 per cent while Private sales were up 50.3 per cent year to date.
“The result also highlights the outstanding efforts by all parties in the supply chain in continuing to meet the demands of their of their customers in the face of ongoing challenges such as the shortage of microprocessors and shipping delays,” Mr Weber said.
Toyota was the market leader in May recording sales of 21,156. It was followed by Mazda (10,554), Kia (7,124), Ford (6,493) and Mitsubishi (6,478). The Toyota Hi-Lux was the highest selling vehicle (4,402) followed by the Ford Ranger (4,254), Toyota RAV4 (4,014), Toyota Landcruiser (3,399) and the Isuzu Ute D-Max 3,058).