June is traditionally a prime time for new car hunting with the end of fiscal year (EOFY) period leading to booming sales, but 2024 is hardly a year to be reckoned with compared to years past.
A total of 119,659 new cars were sold in June 2024, making it the best month of the year so far. However, this is a year-on-year trend, with this year’s figures only the sixth-best June since 2014.
Excluding years heavily impacted by the COVID-19 pandemic, June 2024 will only surpass 2014 and 2019 in year-end new car sales over the past decade.
Months with highest new car sales since 2014:
- June 2017 – 134,171
- June 2018 – 130,300
- June 2016 – 128,569
- June 2015 – 125,850
- June 2023 – 124,926
- June 2024 – 119,659
In contrast, 2024 produced four record months for new car sales in Australia, with January, February, March and May surpassing previous benchmarks, while every month except June showed growth compared to 2023.
Despite the surging market, June 2024 also falls below the 120,043 new-vehicle June average over the past decade, which includes the pandemic-hit outliers of 2020-22.
This could be a sign that the new car market is slowing, as many predict it will as we head into 2024, as rising living costs put pressure on Australian households.
| Month | Average New Car Sales (2014-2024) |
|---|---|
| January | 82,377 |
| February | 89,724 |
| Steps are | 100,773 |
| April | 79,839 |
| Maybe | 95,704 |
| June | 120,043 |
| July | 87,298 |
| August | 89,869 |
| September | 93,871 |
| October | 89,783 |
| November | 95,227 |
| December | 93,029 |
Still, the 632,412 new vehicles reported sold in Australia was a new mid-year record.
As a result, Australia is on track to hit a record this year, with first-half figures suggesting annual sales could exceed 1.25 million, well ahead of the 2023 target of 1,216,780.
