Some trends have not changed markedly in the monthly car sales data in recent times. According to the FCAI, strong sales have continued, and we’ve continually seen HiLux and Ranger battle it out, swapping places for top selling vehicle month after month, with just a few exceptions. But the July 2024 new car sales results reveal quite the upset with the Toyota RAV4 taking out top spot as the best-selling vehicle for the month.
The increase in sales for this popular SUV was significant – 115% above July 2023 sales. Putting some perspective on the figures, it was not long ago that Toyota had delivery timing challenges with this popular model, with many buyers on dealer wait lists. But that situation appears to be resolved with nearly 6,000 buyers driving out of dealerships in their new RAV4 in July.
The total sales of new vehicles for July 2024 was impressive, setting a record for the month of July. According to Tony Weber, the Chief Executive of the FCAI, the result is remarkable given the pressures on costs of living. It would have been even more impressive had the Tesla and Polestar figures been included in the official data. These brands are no longer reporting their sales to VFACTS, the body that compiles the data.
Buyers in the market for a new vehicle may be interested in the trends and breakdown of stats for ideas and inspiration for what their next vehicle may be. We cover off on the July new car sales figures and how we can assist buyers with our competitive interest rate business and private finance deals.
FCAI Monthly Car Sales Wrap
In reporting the July car sales figures, Tony Weber noted a number of key points. Hybrid sales have increased markedly – PHEVS up 128.9% and hybrids up 88.4%, while battery EV sales are down slightly on July last year. He notes that most of the sales of RAV4s are hybrid models.
Despite a great start to the calendar year, Mr Weber said that with the upcoming introduction of the New Vehicle Efficiency Standard and conditions in the economy, the auto sector is remaining cautious. An interesting observation of the data is that sales to private buyers show a 4.2% drop while business buyer sales recorded a 13.7% increase and government buyer sales a 37.5% increase.
Another interesting point in the data is the slight increase in sales for passenger vehicles compared with July 2023 and the slight drop in SUV sales. In recent years SUVs have overtaken passenger car sales as buyers move to this versatile body type.
Trends, Brands and Models to Watch
If you want to be on trend with current new vehicle buyers, the data reveals – go hybrid and go Toyota. Hybrid sales are up while battery EV sales are down. Toyota continues its dominance of the new vehicle market with four models in the top ten best sellers for the month. Mazda maintains its position in second for the month. But as a casual observation, Toyota does offer an extensive range of models across passenger, SUVs and light commercials, especially compared with some other brands.
The leading brands are reported each month but based on sales over the calendar year to date. The top ten to end of July 2024 were Toyota, Ford just ahead of Mazda, then Kia and Mitsubishi, Hyundai, Isuzu Ute, MG, Nissan and Tesla in tenth place.
The leading 10 best-selling vehicle models are reported for the month. As mentioned, Toyota’s RAV4 took the top spot on the podium, over 1,000 units ahead of second placed Ford Ranger which was just a few hundred units ahead of rival Toyota HiLux. Two more Toyota models followed – Corolla and LandCruiser, then the D-Max by Isuzu, Ford’s Everest, the Mitsubishi Outlander, Mazda CX-5 and rounding out the top 10, the MG ZS.
Getting Best Finance on Toyota RAV4
Depending on the model variant, fuel system and options, buyers can be looking at a price range of around $50,000 to up around $70,000, plus the usual on road costs, to get into a 2024 model Toyota RAV4. While rough price guides are useful, for buyers requiring finance, the real figures to consider can be car loan interest rates and individual loan repayments.
Jade Car Loans assists buyers get into a best-selling new vehicle, with highly competitive rates and individually sourced solutions on Toyota RAV4 finance. For private buyers, our Secured Car Loan should suit a RAV4, while business buyers have their choice of RAV4 Lease, Chattel Mortgage and Commercial Hire Purchase.
Use our finance calculator with advertised RAV4 pricing from your local dealer for rough estimates, to compare the different variants and decide what optional extras you may like on your vehicle. Don’t forget to deduct the estimated value of your trade-in when entering the loan amount required.
To expedite delivery of your RAV4, contact us for personal attention to your specific requirements, fast approval and prompt settlement.
Contact Jade Car Loans 1300 000 003 for the competitive rates on Toyota RAV4 finance for private and business buyers.
DISCLAIMER: IN REGARD TO MISREPRESENTATIONS AND ERRORS CONTAINED IN THE MATERIAL AS PRESENTED, LIABILITY IS NOT ACCEPTED. THE DETAILS AND CONTENT IS PROVIDED FOR CAR BUYERS AND INDIVIDUALS AND BUSINESS SEEKING FINANCE PURELY AS GENERAL INFORMATION. THIS IS NOT PROVIDED AS THE ONLY SOURCE OF FINANCIAL INFORMATION. ANYONE THAT CONSIDERS THAT NEED FINANCIAL ADVICE ABOUT THEIR SPECIFIC REQUIREMENTS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.
