Australia’s Automobile Sales Results in 2023

Automobile sales in Australia in 2023 increased by 12.5% from the previous year to 1,216,780 units, setting a record high. Although higher prices and rising loan interest rates were negative factors, the market expanded on the back of increased supply of products as the semiconductor shortage eased. The market continued to expand in the January-March period of 2024, with vehicle sales expanding double digits to 304,452 units, an increase of 13.2% year-on-year. There is a possibility that sales for the full year will exceed the previous year's results and set a new historic high.