Summary
This document is a technical report detailing the VFACTS analysis for the Australian automotive market for the third quarter of calendar year 2024. It presents key insights into vehicle sales trends, highlighting a 10.4% decrease in September sales compared to the previous year, primarily driven by a decline in passenger vehicle sales. The report outlines the performance of various automotive brands, noting Ford's lead over Mazda and Kia's growth against Hyundai's decline. It discusses dealer performance, emphasizing the need for effective expense management and strategies to enhance profitability amid compressing margins. The report also addresses the impact of economic factors such as inventory levels, interest rates, and inflation on market dynamics. Additionally, it notes the resurgence of hybrid vehicles and the challenges faced by dealers in adapting to changing consumer preferences and market conditions. The document concludes with insights into fleet market share and the evolving landscape of automotive sales in Australia.
