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Australian automotive industry: CY23 VFACTS analysis

Australian automotive industry: CY23 VFACTS analysis

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

This content is general commentary only and does not constitute advice. Before making any decision or taking any action in relation to the content, you should consult your professional advisor. To the maximum extent permitted by law, neither Pitcher Partners or its affiliated entities, nor any of our employees will be liable for any loss, damage, liability or claim whatsoever suffered or incurred arising directly or indirectly out of the use or reliance on the material contained in this content. Pitcher Partners is an association of independent firms. Pitcher Partners is a member of the global network of Baker Tilly International Limited, the members of which are separate and independent legal entities. Liability limited by a scheme approved under professional standards legislation.

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