SYDNEY, Australia – Toyota topped the Australian car market in sales volume, while Kia outsells its sibling Hyundai for the first time after 24 years.
The Australian car market sales figures for March 2020 are out. Toyota ranks number one based on monthly sales volume. It remains the most prominent car marker in the country, with over 17,000 car sales recorded in March alone. Based on the March 2020 sales volumes, Toyota now has nearly 28% market share.
Toyota, on the top one for car sales, isn’t surprising as the carmaker often surpasses most brands in the Australian market. The shocking part was Kia overthrowing its sibling Hyundai in the chart. It’s the first time for Kia to outsell Hyundai after around 24 years.
Kia recorded around 5,400 car sales volume in March against the 5,400 sales volume for Hyundai. The rise is also noticeable with the positive year-on-year sales growth for Kia compared to the negative growth for Hyundai. This recent increase in sales volume brought Kia to fourth place in the chart, pushing the other brand into fifth place. Kia now has almost 9% market share to Hyundai’s 8.5%.
The recent figures are surprising, especially with Hyundai as the older car maker and more prominent between the two, at least for the past decades. It entered the Australian car scene in 1986, while Kia came a decade later. For 20 years, Kia was a distant competitor to Hyundai, outselling it for over three-to-one in recent years. But the streak seems over now for Hyundai as Kia takes over its seat on the chart.
And while Kia isn’t among the top five carmakers in the country, it posted incredible sales growth in the past five years. The car brand posted double in sales volume from 2014 when it recorded 28,000 units sold to a total of 61,500 car sales in 2019.
The carmaker newly launched its Seltos model, which as a massive three months waiting period in the Australian car market. The popularity of the SUV even went to new heights after the Australian Open Tennis competition promoted it. The SUV is among the ones that helped accelerate the sales volume for Kia in the country.
Meanwhile, the second-highest sales volume for March 2020 is for Mazda, with around 6,800 units sold. And while the top-two is impressive for the automaker, its sales volume isn’t even half of that of Toyota. Mazda now holds a 10.8% market share.
Mitsubishi snagged the third place in the chart with its around 5,700 recorded car sales volume, providing the car brand with a 9.0% market share. The list continues with Holden on the sixth place with 5,000 car sales recorded, Ford on the seventh place with 4,800 units sold, and Nissan on the eighth place with 3,500 sales volume. Honda, Volkswagen, and VW also made it into the top 11 car markers in the Australian market with a recorded car sales volume of 3,100, 3,000, and 2,800, respectively.
The figures for sales volume in the Australian car market for 2020, however, remains a bit muted primarily because of the ongoing coronavirus pandemic. From the chart, most of the car markets recorded a year-on-year decline in sales volume. Meanwhile, the inquiries and footfalls for new vehicles experienced steep degrowth in March. VW experienced the highest drop in sales volumes at negative 30%, followed by Nissan with a 30% fall in units sold on a YoY basis. Mazda and Hyundai also recorded a 28% drop each.
In terms of volume, the Australian car market is around three to four times smaller compared to the Indian car market. Based on the estimated total number, there are about 63,200 units sold in March 2020 all over Australia.
The passenger vehicle market in the country remains primarily dominated by automakers from Japan, Europe, and Asia.
The recent figures show how heavily impacted is the car retail sector in the country is due to the ongoing health crisis because of COVID-19. The tightening restrictions from the government in Australia and other countries forced OEMs to close indefinitely.
The car industry is already struggling, and the recent downturn in most markets due to the pandemic is not helping. Based on previous reports and forecasts, the sales volume for new cars in Australia may drop by 20% this year. If that happens, it will bring the country’s figure below the one-million level for the first time since the drop that the industry experienced in 2009.
Data analysts are warning about the considerable downturn in the future of the car market in the country. That doesn’t only include the purchase of vehicles and sales for automakers, but the negative sentiment will impact the transport services as well. Ride-share and taxi operators will most likely experience the downturn in their businesses as well.
According to a market analyst, the gross domestic product (GDP) for the second quarter can experience a shocking 20% to 30% decline compared to the recorded figures from the same quarter last year.
Holden’s exit from the Australian car market will also massively drive the declining figures even further. The coming months will also be critical for carmakers currently in the margin.
Meanwhile, there is an increasing number of Australians who are hiring accident lawyers to ensure their rights are protected in car accident cases when dealing with insurance companies.
There are around 1,100 to 1,200 people who are dying in road traffic accidents in the country. In most cases, pedestrians and bike riders are experiencing grave injuries. Road accidents are rapidly rising in line with increased road traffics.
With Australians becoming more aware of the difficulties they may face when fighting a case, they are becoming reliant in accidental lawyers. This way, they can have better chances of getting proper compensation from car insurance companies whenever necessary.
According to some law experts, insurance firms have massive support for legal aid and advisor in most cases. Hence, most of them will play by the rules with lawyers present, said experts.
Australians are also becoming more aware of the ease of availability and massive benefits of hiring online law services. Thus, it made it possible for most people to have a convenient way to contact and hire injury law services nowadays.