The car you drive says a lot about you. Most Australians usually opt for a car loan from financial providers to buy their cars, but you want to make it a worthwhile investment. We have compiled car trends by state to help you make a more informed decision not only on the model of the car but to prepare you financially for how much you could be possibly paying out.
Australia is a car-loving nation, but we are also conscious in terms of the type of fuel that powers our wheels. According to the Australian Bureau of Statistics there has been a decrease for petrol powered vehicles which went down by 1.1 % points to 75.7 % of the national fleet. However, there has been an increase in diesel powered vehicles which increased by 1.3% points of the Australian fleet. The diesel-powered car category sees to show no slowing down as it remains the fastest growing by fuel type. However, our obsession with diesel vehicles can have a negative effect when it comes to health. It can cause cancer and respiratory diseases. This is something that car buyers will have to keep at the back of their mind when opting for a diesel car.
Sale trends: Sports utility vehicles take over
it also appears that Australians are moving away from the traditional vehicles such as passenger cars, station wagons, and people movers, to more Sports Utility Vehicles that are designed for off-road purposes. Statistics by ABS for October showed that sales for passenger vehicles have dropped from 39,104 to 36,769 sales across all states. Sports utility Vehicles have experienced comfortable sales across all states with 38,903 being sold. The reason why SUV's are so popular in Australia is because of it being spacious, its ability to adapt to various Australian terrain, has good safety features, and offers enough head and leg room. The state that had the highest sales in vehicles was New South Wales (NSW) with a total of 39081 followed closely by Victoria (VIC) with 28 091.
The average costs that Aussies have to pay for cars
With a total of 99,106 sales made in October alone across all states, you could be wondering what is the average costs that Australians fork out for their new wheels. It all depends on what type of model you will be investing in. A recent survey conducted by Savvy among 1,500 customers showed that the average cost that Australians forked out for their cars was $26,364. NSW ranked the highest with its drivers paying $29,134, and TAS was the lowest with $21,314.
Toyota keeps ahead of the game
When it comes to the top car brand that is winning in sales it is Toyota with a total of 17, 836 sales in October. Followed by Hyundai with 8 800 sales. These budget-friendly car manufactures stay a top of the game by producing cars that are not only gentle on the pocket, but also have improved designs for all types of people. When looking for a safe reliable car it is always best to do thorough research and compare. Drive out of a car dealership with your new wheels with a car loan that understands you from an accredited financial provider.