Inflation and interest rates might lead you to believe 2023 was a bad year for car dealerships, but with shipping bottlenecks eased and backorders finally fulfilled, it actually shaped up to be a record year of sales. Not only was 2023 a good year for Ford — the Ranger was the best-selling car in Australia — it was also a great year for luxury cars with bumper numbers (almost) across the board.
According to a report from the Federal Chamber of Automotive Industries (FCAI), blue-chip automakers McLaren, Aston Martin, and Lamborghini all had an excellent run of it, jumping 39.3%, 18.9%, and 36.9% respectively in the number of cars sold compared to 2022. Bentley also enjoyed a 12.8% bump, while Ferrari, Maserati, and Porsche saw more modest gains of 5.9%, 7.4%, and 7.9% respectively.
There were, however, two notable marques that struggled. Jaguar sold 119 fewer cars in 2023 compared to the previous year (-17%), while Rolls-Royce slid by 18.3% after only selling 49 vehicles across the entire country.
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Of the slightly more affordable luxury automakers, it was also an excellent 12-month stretch for Lotus (+195.2%), Fiat (+111.5%), BMW (+15.4%), Land Rover (+93.8%), Audi (+29.2%), Mini (+42.9%), and Alfa Romeo (+25.4%).
Electric cars also had the best year on record, with the ACT becoming the first state/territory to have EVs ranked as the best sellers: the Tesla Model Y and Model 3 claimed first and second place. Broken down by brand, the growth was unambiguous after Polestar saw a 61.6% sales increase, and Tesla climbed a whopping 135.4% after 46,116 cars were snapped up compared to just 19,594 in 2022.
Unfortunately for dealerships, the outlook isn’t as rosy for 2024 as per the current forecast. Something that’s a direct result of the cost of living pressures that are being felt everywhere.
