Last month saw an upturn in used car sales across Australia after experiencing several months of decrease; nonetheless, experts caution that changes might be imminent.
According to data collected by AutoGrab and released by the Australian AutomotiveDealer Association (AADA), 174,762 pre-owned cars were sold in February, marking a rise of 2.2 percent compared to the previous month.
This marks only the third time since last July that we've seen month-over-month sales growth; nonetheless, it represents a decline of nearly 5000 vehicles compared to the 179,448 units sold back in February 2024.
This marks the tenth consecutive month where used car sales have dipped below 200,000 since the debut of the AADA’s Automotive Insights Report (AIR) at the conclusion of 2023.
A wide array of new car offers can be found here. CarExpert Right now. Team up with the professionals and secure an excellent bargain. Browse now .
"Although sales have risen positively since January, the overall market continues to undergo adjustments," stated AADA CEO James Voortman.
Given that supply contracts and demand is still beneath historic norms, it continues to be a buyer-friendly market.
Typically, it takes around 48.5 days to sell a pre-owned vehicle, indicating that these sales continue at a consistent rate, even though there might be variations depending on the area.
In October, the typical duration to sell a pre-owned vehicle increased to 49 days, and this figure has remained notably under the peak of 50.9 days recorded in December 2023.
The AADA along with AutoGrab provide the following definitions for the monthly Automotive Insights Report:
- For sale: The number of pre-owned and demonstration cars currently advertised online by both dealership and individual sellers nationwide as per our latest report. AutoGrab sorts through these postings, removing duplicates to accurately track each vehicle just once, even when they appear on several different sites.
- Sales: This represents the total number of vehicles removed from online marketplaces, which closely mirrors real sales figures and is documented each month. The delisting tally accounts for distinct vehicles since AutoGrab cleanses and removes duplicate entries to pinpoint and exclude repeated listings, guaranteeing that cars posted on several platforms are tallied just once.
Top-selling pre-owned vehicles (up to a decade old)
Just like over the last year, the Ford Ranger topped the charts again as the most popular used car, mirroring its appeal in the new vehicle segment.
The Toyota HiLux topped the list among the brand’s five vehicles in the top 10, which included one each from Ford, Hyundai, Mitsubishi, and two from Mazda.
Pre-owned vehicle sales across states and territories
Used vehicle sales increased across all regions except for Western Australia, South Australia, and the Australian Capital Territory. Notably, substantial gains in New South Wales and Victoria helped mitigate the overall decline.
Sales by vehicle type
After surpassing traditional passenger cars in October, SUVs have continued to be the best-selling vehicle type, leading the overall growth in the market.
Sales by fuel type
The sale of electric vehicles (EVs) and plug-in hybrids (PHEVs) keeps growing; nonetheless, these account for less than 2,500 units sold each month.
MORE: Top-Selling Used Cars in Australia for 2024 Unveiled
