Q4 2024 Quarterly Aftermarket Dashboard Summary Report
The voice of the independent aftermarket in Australia
Welcome to the Q4 2024 Edition of the Aftermarket Dashboard, a quarterly information service for members of the AAAA.
This industry publication captures useful statistical and related data, as indicators of the unfolding trends and health of the automotive aftermarket industry, and has been designed to provide regular insight on our industry.
We value your suggestions for improvement or feedback regarding content.
Data is sourced from VFACTS New Car Sales Data, FQ SME Report December 2024, Westpac-Melbourne Institute Consumer Sentiment Index, ABS Statistics; Unemployment Rate (trend adj), Household Spending Index, Consumer Price Index, Produce Price Index, pricemycar.com.au, Automotive Insights Report (AIR) AutoGrab Data, Australian Institute of Petroleum, Roy Morgan & Westpac, FQ Car Parc Forecasting
Economic Indicators
economic performance
Business confidence results are up slightly from the previous month but still trail December 2023. highlighting the ongoing challenges facing Australian businesses. Despite this, consumer confidence remains a critical driver of economic activity, with November’s strong household indicator suggesting Australians are prioritising essential spending, such as automotive repairs and maintenance.
Looking ahead, Australian businesses will need to adapt to these economic conditions by balancing operational costs with strategies to retain skilled workers, ensuring they are well-positioned to capitalise on sustained consumer spending.
fuel prices
Source: Australian Petroleum Statistics, Australian Institute of Petroleum Weekly Petrol/ Diesel Reports
Fuel prices in Australia are easing, with petrol down 3 cents per litre and diesel dropping 17 cents yearover-year. This offers relief to businesses, especially in sectors like logistics and transport. Whether this indicates a sustained trend or an isolated adjustment does however remain uncertain.
Despite these price decreases, regular petrol volumes have remained relatively stable over the past 12 months, suggesting that falling prices have not significantly influenced consumer behaviour in this category. In contrast, sales of premium petrol and diesel have seen upward trends, potentially reflecting higher activity among businesses and consumers with greater discretionary spending capacity.
vehicle sales
New vehicle sales slowed in December 2024, down 3% compared to the same month in 2023. However, YTD sales for the year reached 1.23 million, edging slightly ahead of last year’s total.
While Toyota’s RAV4 emerged as the top-selling model for the month, it couldn’t overtake the Ford Ranger for total sales, with the ute ending the year as the overall market leader. The transition towards Zero and Low Emission Vehicles (ZLEVs) continues, with ZLEVs now representing 22.5% of sales for December and 23.1% YTD. This growth is predominantly driven by hybrid and plug-in hybrid models, which account for 16% of YTD sales, while Battery Electric Vehicles (BEVs) lag behind at 7.1%.
automotive inflation
monthly business turnover index (5year index)*
quarterly consumer/ producer price index (5-year index)**
*The ABS Business Turnover Index tracks changes in business turnover for large businesses ($20M+ annual turnover) based on monthly BAS lodgments, helping us understand trends around industry economic performance.
**The Consumer and Producer price indexes then reflect changes in the costs of parts and materials from suppliers (i.e. input costs).
Source: ABS Statistics; Monthly Business Turnover Index, Consumer Price Index, Produce Price Index >5% change vs. YoY
Inflation remains a key challenge for the Australian automotive sector, despite modest growth in motor vehicle and parts retailing (+0.9% year-on-year). In contrast, wholesaling revenues declined by 2.3%, indicating a slowdown in consumer and business spending in the sector.
Input costs have also risen significantly, with spare parts and accessories up 12.6% year-on-year and the cost of manufacturing motor vehicles and parts increasing by 4.2%. These rising costs are squeezing profit margins for workshops and retailers, even as they navigate fluctuating demand.
This highlights the growing difficulty for businesses to maintain profitability while balancing higher costs and cautious spending trends.
Year in Review
Top 10 Car Brands 2024
Source: VFACTS 2025 | Passenger, SUV, Light Commercial & Heavy Commercial
Toyota rebounded strongly in 2024, growing 12% YoY to 241,296 units after overcoming 2023 supply chain challenges.
Despite a year-on-year sales decline, Toyota remained the top-selling car brand in Australia in 2023, outperforming any individual competitor two to one.
Ford’s 13% rise to 98,497 units secured second place, Mitsubishi secured 5th off the back of a 17% increase and further down the list GWM and Nissan posted standout growth of 18% and 15% respectively
Mazda continues to hold second spot with 100,008 vehicles sold, while Ford took 3rd off the back of a 32% sales increase, overtaking both Kia and Hyundai as it captured 87,800 sales.
The market reflects strong SUV and light commercial demand, with brands adapting to shifting buyer priorities ahead of 2025’s NVES rollout.
The biggest loser in the top 10 was Mitsubishi, dropping two spots as its sales fell by 18% to 63,511.
New Car Sales by State
2023: 18,531 2024: 18,226
2023: 327,229
Source: VFACTS 2025 | Passenger, SUV, Light Commercial & Heavy Commercial
2023: 21,150 2024: 20,482
New car sales improved across most Australian states this year, with WA leading the way as it added 18,297 units. QLD and VIC also posted gains at 2.0% and 1.8%, respectively. Despite a slight 0.2% decline, NSW remained the largest market with 373,640 sales.
Despite a year-on-year sales decline, Toyota remained the top-selling car brand in Australia in 2023, outperforming any individual competitor two to one. Mazda continues to hold second spot with 100,008 vehicles sold, while Ford took 3rd off the back of a 32% sales increase, overtaking both Kia and Hyundai as it captured 87,800 sales.
These results reflect a strong recovery in vehicle sales nationwide for 2023’s supply chain issues, but did also reflect OEMs and dealers driving sales volumes in the back half of the year through significant financial incentives.
The biggest loser in the top 10 was Mitsubishi, dropping two spots as its sales fell by 18% to 63,511.
New Car Sales by Buyer Type
Private buyers remain the largest segment for new car sales in 2024, accounting for 53% of total purchases despite a slight YoY decline.
Despite a year-on-year sales decline, Toyota remained the top-selling car brand in Australia in 2023, outperforming any individual competitor two to one.
Fleet sales did however also grow significantly, with business purchasers continuing to drive an increasing share of total sales, rising 6% YoY to 454,285 vehicles, and now making up 38% of total sales. Although smaller in scale, government purchases recorded the highest growth at 15% YoY, reflecting continued investment in fleet updates.
Mazda continues to hold second spot with 100,008 vehicles sold, while Ford took 3rd off the back of a 32% sales increase, overtaking both Kia and Hyundai as it captured 87,800 sales.
The biggest loser in the top 10 was Mitsubishi, dropping two spots as its sales fell by 18% to 63,511.
Overall, fleets represent a clear and growing opportunity for the automotive aftermarket, particularly given the focus that businesses and governments have on maintaining and optimising their vehicles. This includes their demand for service and repair, along with the modifications and specialised parts required to meet operational needs, and ensure vehicle efficiency and longevity.
New Car Sales by Fuel Type
Despite a year-on-year sales decline, Toyota remained the top-selling car brand in Australia in 2023, outperforming any individual competitor two to one.
The transition to lower-emission vehicles continues to accelerate, with significant growth in 2024. Hybrid sales grew by 77% YoY, reaching 174,307 units, while EVs saw a modest 5% increase to 91,293 units. The standout performer though was PHEVs, surging by 104% YoY to almost hit 23,000 sales.
Mazda continues to hold second spot with 100,008 vehicles sold, while Ford took 3rd off the back of a 32% sales increase, overtaking both Kia and Hyundai as it captured 87,800 sales.
The biggest loser in the top 10 was Mitsubishi, dropping two spots as its sales fell by 18% to 63,511.
Despite this, Petrol vehicles remain the largest segment at 45% market share (despite a 10% decline), while diesel sales rose 3% to hold a 31% share.
As electrified vehicle adoption increases, aftermarket players will need to adapt, with rising demand for specialised components like batteries and charging solutions. However, the resilience of petrol and diesel vehicles ensures continued opportunities servicing and repairing ICE vehicles well into the future.
About AAAA
The Australian Automotive Aftermarket Association, is the national industry association representing manufacturers, distributors, wholesalers, importers and retailers of automotive parts and accessories, tools and equipment, as well as providers of vehicle service, repair and modification services in Australia.
For more information, please contact:
Lesley Yates
Director of Government Relations and Advocacy
Australian Automotive Aftermarket Association (AAAA)
Convenor: Automotive Products Manufacturers & Exporters Council (APMEC)
7-8 Bastow Place
Mulgrave VIC 3170 Australia
+61 (3) 9545 3333 | 0402 005 476 lyates@aaaa.com.au
About Fifth Quadrant
With over 20 years of automotive experience, Fifth Quadrant has developed a detailed understanding of the automotive sector, using this market knowledge, we design and deliver research that helps our clients understand and overcome their business issues, empowering them to move forward with confidence.
For more information, please contact: Ben Selwyn Amelia McVeigh Director Account Director Fifth Quadrant Fifth Quadrant 0411 132 166 0420 248 689
ben@fifthquadrant.com.au amelia@fifthquadrant.com.au
Level 6, 54 Miller St
North Sydney NSW 2060 Australia
+61 (2) 9927 3333