The Australian automotive market has achieved an unprecedented milestone, breaking all time records for new vehicle sales in 2023.

A total of 1,216,780 vehicles were delivered during the year, the previous highest sales result of 1,189,116 was achieved in 2017.

Toyota was the top selling car brand with 17.7% of the market but the top selling vehicle was the Ford Ranger (63,356). SUVs and light commercials accounted for 78.4% of sales and all the top 10 vehicles sold in 2023.

Battery electric vehicles accounted for 7.2% of sales with combined battery electric, plug in hybrid and hybrid vehicles achieving 196,868 sales or 16.2% of new vehicle sales.

“Cost-of-living pressures and increased interest rates will impact the market, and we anticipate a challenging 2024,” the industry lobby FCAI said.

“The FCAI will continue its work with governments and other industry stakeholders during 2024 to manage a broad range of issues ranging from emissions standards, environmental impacts, logistics and supply chains, taxation, vehicle safety, data use and recharging infrastructure.”

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By GlobalData