- January 13, 2021
- Posted by: Capital Funding
- Categories: Motor Vehicle Finance, Personal Loans
Long gone are the days of Holden vs Ford. These days it’s all about the SUV vs the great Australian ute. So which vehicle type topped the list in 2020?
Let’s wind back the clock a bit.
It’s the year 2000: we’ve dodged Y2K (phew!), you can still photograph your kids sitting next to the pilot, and you’re either a fan of Peter Brock (Holden) or Dick Johnson (Ford) – never both.
Back then the Holden Commodore and Ford Falcon were our two top-selling vehicles, both of which have been discontinued in recent years.
How times change, huh?
So what’s the most popular kind of vehicle in 2020?
These days it’s all about the SUV, which is getting more and more popular.
In fact, SUVs claimed 49.6% of the market during 2020, an increase from 45.5% market share in 2019, according to the Federal Chamber of Automotive Industries (FCAI).
Light commercial vehicles (LCVs) – mainly utes and vans – were also popular in 2020, with 22.4% market share.
Sales for this vehicle type were no doubt boosted by the federal government’s instant asset write off scheme – now expanded to ‘temporary full expensing’ – which allows businesses to immediately deduct the business portion of the cost of eligible new depreciating assets.
What are the most popular brands and models in 2020?
The highest-selling brand for the year was Toyota, with an impressive 204,801 vehicles sold for a whopping 22.3% market share in Australia, says the FCAI.
In second place was Mazda (85,640 sales for 9.3% market share), followed by Hyundai (64,807 sales for 7.1% market share).
In fourth place was Ford (59,601 sales for 6.5% market share), narrowly beating out Mitsubishi (58,335 sales for 6.4% market share).
It’s interesting to note that out of the top ten vehicles for the year, seven of them were either SUVs or LCVs.
So without further ado, the top-selling vehicles for the year 2020 were:
1. Toyota HiLux (45,176 sales)
2. Ford Ranger (40,973)
3. Toyota RAV4 (38,537)
4. Toyota Corolla (25,882)
5. Toyota Landcruiser (25,142)
6. Mazda CX-5 (21,979)
7. Hyundai i30 (20,734)
8. Mitsubishi Triton (18,136)
9. Toyota Prado (18,034)
10. Kia Cerato (17,559).
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If you’re thinking of purchasing a new vehicle and want to explore your finance options for it, then please get in touch.
As mentioned above, if you’re a business owner and need to use the vehicle for your business, you might be able to take advantage of the federal government’s ‘temporary full expensing’ scheme, which is designed to help boost your business’s cash flow.
To find out more, please get in touch with us today – we’d love to help you hit the road in a new set of wheels.
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