Australia’s Automobile Market in 2024

Australia’s automobile sales in 2024 increased by 1.7% from the previous year to 1,237,287 units, setting a record high for the second consecutive year. The market was driven by HEV sales, going up 76.0% to some 173,000 units. Interest in HEVs is increasing due to rising gasoline prices and the recent termination of BEV subsidies. Although BEV sales increased by 4.7% year-on-year to 91,292 units in 2024, the rate of growth slowed. PHEV sales increased 2.0 times to 23,163 units, but this is thought to be due to last-minute demand in response to the abolition of fringe benefits tax exemption from April 2025.