Without any doubt, 2023 was a fantastic year for the Australian automotive industry with dealerships holding steady sales despite economic pressures.
But the current economic headwinds cannot be ignored and will likely impact on 2024 sales volumes as new cars are perceived an increasingly unaffordable due to increasing prices, rising interest rates, spiking insurance costs and household finances under pressure.
The latest Calendar Year 2023 Vehicle Facts analysis (CY23 VFACTS) offers a comprehensive overview of the automotive industry over the past 12 months, and the trends and impacting factors professionals should watch for into the future.
The report covers:
- Industry overview
- Consumer sentiment
- Brand performance and market share
- Model and segments trends
- Industry pressure points for the future