Utes are hot property in Australia.
The new and used car market is a sellers’ market as motor vehicles are in short supply in Australia. Cars 1-3 years old are the most sought-after models. The most popular models are Toyota Hilux, Toyota RAV 4 (particularly the Hybrid), Toyota Camry, Ford Ranger, Toyota Corolla, Mitsubishi Triton, and Isuzu D-Max.
Increased Demand.
Demand has increased across all brands. Dealers are paying 20% to 30% more for used vehicles than they were prior to Easter 2020. Demand has surged since Easter Monday 2020.
Why has demand increased?
Commuters have decided not to risk using public transport for fear of contracting Covid-19. They have decided to drive instead. Combine this with people accessing their super to buy cars to tow boats and caravans so that they can holiday within Australia. People are still unable to travel interstate resulting in travellers taking to the road for their holidays and business trips. www.locateacar.com.au has a great range of cars.
Stock Shortages. Price Rises.
The rush to avoid public transport has coincided with new and used car stock shortages. This has resulted in prices rising to a point where most dealers have a fixed price for the stock they have. Dealers are not prepared to negotiate. Used cars are selling quickly.
- Late model used cars are now selling for more than new cars.
- The shortage of stock (new and used cars) is the worst many dealers have ever experienced.
- The demand for used new and used cars currently outweighs supply.
- This has increased the price of later model, low kilometre vehicles.
- The motor vehicle industry is seeing demand greater than the available supply.
- December-January is looming as a low water mark in stock availability.
- Some large dealer groups predicting that they may have no stock left.
Many dealers are looking at consolidating sites and reducing staff numbers if there is no improvement in used car stock availability. The long lead times for new car arrivals is not helping as the trade ins are not coming onto the market.