China has overtaken Korea to be Australia’s third-biggest supply of recent vehicles over the primary two months of 2023, however there’s a protracted method to go earlier than the yr is thru.
Yr-to-date supply knowledge reveals that Australians have taken the keys to 26,111 Chinese language-made new vehicles this yr, in comparison with 24,852 Korean-made vehicles.
The expansion in gross sales of vehicles made in China this yr is 106.9 per cent year-on-year (YoY), in comparison with 6.2 per cent progress for Korean imports.
The standings imply China is now quantity three for sources of recent automobiles, behind Thailand (38,998 year-to-date, degree YoY) and Japan (48,343, down 17.6 per cent). The latter particularly has been affected by provide chain issues, principally for Toyota.
These figures embrace gross sales of assorted fast-growing Chinese language manufacturers together with MG, LDV, GWM/Haval and BYD. Nevertheless it additionally contains automobiles produced in China by manufacturers based mostly elsewhere such because the Tesla Mannequin 3/Y, Polestar 2, and Volvo XC40.
Anticipate the variety of China-made vehicles to spike over the course of this yr. Not simply from the growth of current Chinese language manufacturers however the launch of recent ones resembling Ora and Tank (each a part of GWM), Chery and JAC Motor.
Following the highest 4 sources of vehicles (all in Asia) are Germany, the USA, England, Mexico, Spain and Hungary.
Sources of vehicles bought in Australia Jan-Feb 2023
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Sources of vehicles bought in Australia throughout 2022 for context
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