Quarterly Report – Q1 2023

In Quarter 1, several sectors, notably the heavy vehicle industry, achieved record-breaking results. The industry saw a total of 3,615 year-to-date sales, reflecting a remarkable 20.0% growth. However, future sales are anticipated to slow due to upcoming interest rate hikes and the conclusion of the Temporary Full Expensing incentive in June. The medium-duty segment continues to perform well, while light-duty trucks experienced an impressive 25.1% year-on-year increase. In March, the Australian new car market witnessed a decline due to supply shortages, yet overall sales for Q1 2023 remained higher year-on-year. Notably, electric vehicle sales increased, with utes and SUVs dominating the market. Explore our detailed analysis of all market sectors to gain comprehensive insights

• Launch of eevee auctions, Australia’s first and only EV & Hybrid auction marketplace
• Truck sales in Australia saw 10,458 truck and heavy van deliveries, a significant increase of 1,641 units compared to last year, representing an 18.6% rise.
• The Australian new car market experienced a slight decline in March 2023 due to ongoing supply shortages, but Sales for Q1 2023 remained higher than the previous year
• Auction sales in the earthmoving equipment sector have stabilized and are returning to pre-COVID levels.
• Tractor sales in February 2023 were down 29% YoY and 27% year-to-date, with declines observed in most states.
• Battery electric vehicle sales rose by 19.5% compared to March 2022, while plug-in hybrids increased by 33.3%.
• Utes and SUVs continue to dominate the Australian market, with six out of the top 10 models being utes, and the remaining four being SUVs.