Key Market Indicators
Australian vehicle registrations are projected to soar to approximately 61 million units by 2028, a significant increase from around 48 million units in 2023. This growth represents a compound annual growth rate (CAGR) of 3.8%. The Australian market has seen a remarkable surge, expanding by 112% year on year since 2010. In global rankings, Canada, China, and Austria follow Australia in positions two, three, and four respectively. However, the landscape for vehicle production in Australia tells a different story. Production figures have plummeted from roughly 44,000 units in 2022 to just over 31,000 units in 2023, marking a steep decline of nearly 30%. This downward trend is not new; since 2002, Australian vehicle production has been shrinking at an average rate of 20.8% per year.
Latest reports
Australia Automotive Market Report- Q4 2024
The Australian automotive market is experiencing transformative changes in Q4 2024, driven by shifts towards sustainability, technological advancements, and evolving consumer preferences. The...
