Established Car Brands Report Sales Drop, Despite Industry Record

More new cars were sold in Australia in 2024 than in any previous year, but for many established brands, the sales figures told a different story.

According to data released by the Federal Chamber of Automotive Industries (FCAI), a total of 1.24 million new passenger vehicles were purchased in Australia last year, with the Ford Ranger taking the sales crown – followed by the Toyota RAV4 and Toyota HiLux.

But many mainstream car companies won’t be celebrating.

Audi, Lexus, Lotus, Mercedes-Benz, Subaru, and Volkswagen all recorded year-on-year sales drops of more than 10 per cent, while Alfa Romeo, Bentley, Genesis, Peugeot, Suzuki, and Volvo all saw sales drop by 20 per cent or more compared to 2023.

Cupra, Fiat, Renault, Skoda, and departing French brand Citroen all reported sales decreases of more than 30 per cent.

However, by far the worst-performing brands were Maserati (down 40.9 per cent), Ram (down 43.6 per cent), and Jeep – which saw sales plummet by 48.7 per cent year-on-year.

While it appears sales may have been stolen by some newcomer brands from China, curiously both MG and LDV also reported lower sales figures for 2024 – down 13.3 and 24.8 per cent respectively.

Meanwhile, Hyundai, Land Rover, Mazda, Mini, and SsangYong experienced a drop in sales of less than 10 per cent.

Conversely, Chinese brands GWM and BYD both experienced significant growth, with yearly sales increasing for GWM by 17.5, while BYD saw an impressive 64.5 per cent jump.

But the winner, by some margin, was another Chinese car maker – Chery – which recorded a massive sales jump of 114 per cent, compared with 2023.

Perhaps the most surprising winner of 2024 was Jaguar, with sales increasing by 27.9 per cent – despite the company essentially shuttering production of petrol and diesel models in the middle of the year.

Of the mainstream brands, Chevrolet, Ford, Mitsubishi, Nissan, and Toyota all saw double-digit growth, with increases of 16.2, 14.1, 17.4, 15, and 12.1 per cent respectively.

BMW, Honda, Isuzu Utes, and Kia all recorded growth of up to 10 per cent year-on-year.

Except for Bentley, Maserati, Mercedes-Benz, and Lotus, it appears many of the winners in 2024 were luxury and supercar companies, with Ferrari, Lamborghini, McLaren, Porsche, and Rolls-Royce growing sales compared with 2023.