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Business Environment Profiles - Australia

New passenger motor vehicle sales

Published: 08 May 2024

Key Metrics

New passenger motor vehicle sales

Total (2024)

957358 Units

Annualized Growth 2019-24

3.7 %

Definition of New passenger motor vehicle sales

This report analyses the number of new passenger vehicles and sport utility vehicles (SUVs) sold in Australia. The data for this report is sourced from the Australian Bureau of Statistics and the Federal Chamber of Automotive Industries. New vehicle sales are considered to be an important indicator of the health of the economy and economy-wide trends. During times of recession, purchases of new vehicles fall. Conversely, at times when the economy is booming, new vehicle purchases increase. The purchase of new passenger vehicles forms a significant part of consumer expenditure and is an important indicator of consumer sentiment.

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Recent Trends – New passenger motor vehicle sales

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5-Year Outlook – New passenger motor vehicle sales

IBISWorld forecasts the number of new passenger motor vehicle sales to rise by 2.4% in 2024-25, t...

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