Antonella Abbate • 12 February 2024

Australian New Car Market Hits Record High with 89,782 January Sales in 2024

In a promising start to the new year, the Australian automotive industry has once again demonstrated resilience and vitality as it continues its upward trajectory. With a record-breaking January, marked by an impressive 89,782 new vehicle sales, the market has set a bullish tone for the months ahead. This robust performance underscores the enduring appeal of automobiles in the country despite economic fluctuations and changing consumer preferences.


The latest figures, released by the Federal Chamber of Automotive Industries (FCAI), reveal a significant uptick in new car sales compared to previous years. Notably, this represents a 5.2% increase over January 2023, signaling sustained growth and confidence among consumers and industry stakeholders alike. Such positive momentum is a testament to the strength of the Australian economy and the resilience of the automotive sector in the face of challenges posed by the COVID-19 pandemic and global supply chain disruptions.


Several factors have contributed to the strong performance of the Australian new car market in January 2024. Chief among these is the continued demand for SUVs (Sports Utility Vehicles) and light commercial vehicles, which have remained popular choices among Australian consumers for their versatility, comfort, and practicality. Additionally, ongoing innovations in vehicle technology, coupled with competitive pricing and attractive financing options, have incentivized consumers to upgrade their vehicles or invest in new ones.


Furthermore, the easing of COVID-19 restrictions and the gradual return to normalcy have bolstered consumer confidence and spurred spending on big-ticket items such as automobiles. With pent-up demand driving sales, dealerships across the country have reported brisk business and increased foot traffic, reflecting a renewed sense of optimism within the industry.


The record January sales figures are particularly noteworthy given the challenges posed by supply chain disruptions and semiconductor shortages that have plagued the global automotive industry in recent years. Despite these headwinds, Australian dealerships have managed to navigate the complexities of inventory management and logistics to meet consumer demand and capitalize on favorable market conditions.


Looking ahead, industry analysts are cautiously optimistic about the prospects for the Australian new car market in 2024. While challenges such as rising inflation, geopolitical uncertainties, and environmental concerns remain, the underlying fundamentals driving demand for automobiles – including population growth, urbanization, and infrastructure development – are expected to provide a solid foundation for continued growth.


Moreover, the transition towards electric and hybrid vehicles, spurred by government incentives and environmental regulations, presents new opportunities for manufacturers and consumers alike. As the automotive landscape evolves, Australian car buyers are increasingly prioritizing sustainability, fuel efficiency, and technological innovation, driving demand for eco-friendly alternatives and prompting industry players to adapt and innovate.


In conclusion, the record January sales of 89,782 new vehicles in Australia signal a promising start to the year for the automotive industry. Despite ongoing challenges and uncertainties, the resilience and adaptability of industry stakeholders, coupled with robust consumer demand and favorable market conditions, bode well for continued growth and prosperity in the months ahead. As the industry embraces change and embraces innovation, the future of the Australian automotive market looks bright and promising.

Letter from the IAME National President

by Antonella Abbate • 11 May 2026
Dear valued IAME Members, Over the past 12 months, many of you have been experiencing increasing commercial pressure as the cost of operating an automotive business continues to rise. Through our recent IAME Cost of Living Survey, members have made it clear that rising insurance premiums, fuel costs (including 91 ULP petrol), wages, energy prices, parts costs, rent, and compliance obligations are placing real strain on businesses across the industry. The survey results confirm what many of you are experiencing day to day. Business conditions have become more challenging, margins are tighter, and confidence in the economic outlook remains uncertain. Many workshops and professionals are working harder than ever simply to maintain service levels, support staff, and continue training the next generation of tradespeople. As the professional body representing automotive practitioners, IAME recognises that our members are navigating a difficult operating environment. We also recognise that many of our members are small businesses and sole traders who must carefully manage every cost. Following discussions at the Board level and in recognition of the current economic conditions facing the industry, IAME has decided not to increase membership fees this year. While many organisations are increasing prices in response to inflationary pressures, the Institute believes it is important to demonstrate support and solidarity with members during this period. We understand that cost pressures are cumulative, and even modest increases can contribute to the overall burden currently being experienced across the sector. This decision reflects IAME’s commitment to acting in the best interests of members and recognising the realities of the environment in which you are operating. It also reinforces the Institute’s ongoing role as an advocate for practical policy settings that support workforce development, small business sustainability, and the long-term strength of the automotive industry. The results of the Cost of Living Survey are already being used to inform discussions with government and industry stakeholders, ensuring that the challenges facing automotive professionals are clearly understood. Your input has provided an important evidence base that strengthens the industry’s collective voice.

PRESS RELEASE

by Antonella Abbate • 29 April 2026
Economic Pressures Mounting on Australia’s Automotive Industry, New Survey Shows

Survey Report - Cost of Business

by Antonella Abbate • 17 April 2026
Thank you to those who took the time to complete the recent Cost of Business / Industry Conditions Survey.