Toyota: The Australian automotive industry witnessed a record-breaking year in 2024, with new car sales reaching an all-time high. However, this surge in overall sales didn’t benefit all brands equally. Let’s delve into the winners and losers of the 2024 new-car sales race in Australia.
The Big Winners
Toyota: Dominating the Market
Toyota continued its reign as the undisputed leader in the Australian automotive market. With a staggering 19.5% market share, nearly one in every five new vehicles sold in 2024 bore the Toyota badge. The Japanese giant’s success can be attributed to several factors:
- Strong performance of the RAV4 family SUV and HiLux workhorse
- Successful transition to hybrid-only engines for passenger cars and SUVs
- Overcoming production shortages from previous years
Toyota’s hybrid electric vehicles accounted for almost 70% of all hybrid sales in Australia, showcasing the brand’s dominance in this growing segment.
Ford: Breaking the 100,000 Sales Barrier
Ford Australia achieved a significant milestone in 2024, surpassing 100,000 sales for the first time in decades. The Ford Ranger claimed the title of the best-selling vehicle in Australia, while the related Everest SUV also performed strongly. Impressively, Ford accomplished this feat without any smaller family SUVs, light hatchbacks, small cars, or mid-size sedans in its lineup.
BYD: Rapid Growth in the Electric Vehicle Segment
Chinese automaker BYD experienced remarkable growth in 2024, with sales increasing by 64.5%. Despite falling short of its ambitious goal to double 2023’s performance, BYD’s success with models like the Seal electric car and the Sealion 6 plug-in hybrid SUV positions it as a strong contender in the electrified vehicle market.
The Notable Losers
Tesla: From Winner to Loser
In a surprising turn of events, Tesla went from being the market’s biggest sales winner in 2023 to its biggest loser in 2024. The American EV manufacturer saw a 16.9% decline in deliveries, with the Model Y experiencing a significant 26.1% drop in sales. This slump occurred despite multiple price cuts early in the year, suggesting that many potential buyers might be waiting for the updated Model Y expected in 2025.
MG: First Sales Decline Since Relaunch
MG, which had been on a consistent growth trajectory since its relaunch under Chinese ownership in 2017, experienced its first sales decline in 2024. Deliveries fell by 13.3%, with the brand’s overall tally dropping by 7,754 units compared to the previous year. This decline coincided with the launch of replacements for MG’s core models, suggesting a potential impact from the model changeover process.
Skoda and Cupra: Volkswagen Group Brands Struggle
Both Skoda and Cupra, part of the Volkswagen Group, faced significant challenges in 2024. Skoda’s sales plummeted by 37.3%, with every model except the newly launched Enyaq experiencing double-digit percentage declines. Similarly, Cupra’s sales momentum stalled, with deliveries falling by 39% compared to the previous year.
The Hybrid vs. EV Battle
One of the most notable trends in 2024 was the divergence between hybrid and full electric vehicle sales. While overall “electrified vehicle” sales (including hybrids, plug-in hybrids, and full EVs) grew by 45.9%, the majority of this growth came from hybrid and plug-in hybrid technologies. Traditional hybrids saw a 76% increase in sales, largely driven by popular models like the Toyota RAV4.
In contrast, full electric vehicle sales remained relatively flat, growing by just 4.8%. This trend suggests that Australian consumers are currently more comfortable with hybrid technology as a stepping stone towards full electrification.
Looking Ahead to 2025
As we move into 2025, the Australian automotive landscape continues to evolve. With many brands introducing updated models and new electric offerings, competition is set to intensify. However, economic factors such as cost-of-living pressures and a looming Federal Election may impact overall sales, potentially making 2024’s record-breaking performance a high watermark for the near future.
The coming year will likely see a continued focus on electrification, with brands like Toyota maintaining their strong position in the hybrid market while others race to improve their electric vehicle offerings. The success of these strategies will play a crucial role in determining the winners and losers of 2025’s automotive sales race.