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Did weekend traffic seem even worse than normal? This may help explain why

Business

Car sales in Queensland have jumped more than 30 per cent in a year underpinning the record share price for companies like Eagers Automotive.

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According the the Federal Chamber of Automotive Industries, more than 19,000 new cars were sold in Queensland in August and 161,000 for the year to date.

The increase has been the same in most states with the exception of the ACT and NSW where August sales fell because of lockdowns.

Electric vehicle sales have also jumped by more than 600 per cent.

The broader sales also appear to defy issues relating to the global microprocessor shortages, but the issues appears to be impacting soeme manufacturers more than others.

The chamber chief executive Tony Weber said that uncertainty around lockdowns meant manufacturers were having to remain agile in the ways they engage with customers.

“The bounce of 33 per cent on last year’s figure demonstrates the resolve of car manufacturers to engage with customers and drive-up new vehicle ownership,’’ Weber said.

“With access to showrooms limited, vehicle makers are working to engage customers in their homes and other places of isolation.”

Strong sales of electric SUVs amidst a global shortage of microprocessor parts are a result of manufacturers working with their suppliers to match vehicles with market demand.

“We know that the car industry is suffering the global impacts of Covid-19 on supply chains. An increase of 635 per cent on the sale of electric powered SUVs shows just how diligently manufacturers are working with suppliers to deliver vehicles to market.”

Toyota was market leader in August with 24.6 per cent of overall sales. This was followed by Mazda (9.4 per cent), and then Kia, Ford and Hyundai who all recorded around 6.2 per cent of market share. The Toyota Hilux was the highest selling model with 4770 sold with the Ford Ranger and Toyota Corolla achieving second and third place.

 

 

 

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