This is the seventh edition of the Pitcher Partners Motor Industry Services – Australian Listed Dealer Comparison, where we provide insight into the top three listed motor dealer groups and explore how the macroeconomic environment and inventory supply affected them in the 12 months ended 31 December 2025. This report covers: Results snapshot Listed results […]
Key points NVES turns vehicle emissions into a tradeable credit, and it is triggered at import, not sale. That creates an incentive to over-import low and zero emissions vehicles to build a bank of credits. The next frontier is cross-market strategy, importing for compliance, then exporting surplus stock elsewhere. Australia’s New Vehicle Efficiency Standard (NVES) […]
Key points: New Vehicle Efficiency Standard (NVES) turns vehicle emissions into a direct commercial cost, requiring OEMs to either reduce fleet emissions or purchase credits, with penalties likely flowing through to vehicle pricing. Penalty exposure escalates rapidly under NVES, disproportionately impacting high-volume and LCV-heavy brands as emissions overruns are multiplied across total units sold. NVES […]
Key points: New Vehicle Efficiency Standard (NVES) applies to most passenger vehicles and light commercial vehicles under 4.5 tonnes, with compliance responsibility sitting with the party that holds type approval and first enters the vehicle onto the RAV. The unit trading scheme is the core compliance mechanism, allowing suppliers that outperform emissions targets to bank […]
Key points: New Vehicle Efficiency Standard (NVES) penalties are expected to materially increase vehicle prices and weekly repayments, with costs compounding through margins and taxes and narrowing consumer choice over time. Dealers face significant supply volatility under NVES, forcing short-term inventory and trading decisions that may disrupt long-standing OEM relationships and accelerate shifts toward parallel […]
Key points: New Vehicle Efficiency Standard (NVES) pressure intensifies early, making incremental efficiency gains insufficient and forcing OEMs to make portfolio, allocation and model-range decisions sooner rather than later. From 2026, the NVES Unit Registry becomes a visible strategic scoreboard, exposing which brands are structurally long or short on compliance and driving changes in pricing, […]
Key points: New Vehicle Efficiency Standard (NVES) is a powerful economic lever that extends far beyond emissions policy, reshaping strategy, pricing and competitiveness across Australia’s automotive value chain. Suppliers and dealers that actively adapt their portfolios, manage unit positions and respond to supply volatility will be best placed to avoid penalties and capture new sources […]
Key points: NVES penalties are already driving aggressive OEM behaviours that will distort pricing, squeeze dealer margins and expose which brands have the resilience to compete sustainably in the Australian market. As front-end margins tighten, performance will depend on controllable levers like used cars, fixed operations, disciplined sales processes and stronger F&I outcomes, which are […]
This is the sixth edition of the Pitcher Partners Motor Industry Services – Australian Listed Dealer Comparison, where we provide insight into the top three listed motor dealer groups and explore how the macroeconomic environment and inventory supply affected them in the 12 months ended 30 June 2025. This report covers: Results snapshot Listed results […]
Rupert is a corporate finance specialist with nearly eleven years of industry experience, specialising in mergers and acquisitions and financial analysis. Since joining Pitcher Partners in November 2022, he has demonstrated exceptional commercial acumen and strategic thinking, progressing to Client Director in February 2024. Driven by a genuine passion for delivering transformative outcomes, Rupert takes […]
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