Market Insight: Some win, some lose

NEW car sales have seen some unexpected upsets in the first half of 2023 as some key players have seen their market share slide while others, mainly newcomers, jump in popularity.

 

A prime example is the Mitsubishi Triton. Partly because of production hiccups with component supply and also because an updated model is on its way, the Triton defies the seemingly unstoppable rise of ute sales.

 

In the first half of this year, the Triton 4x4 is the biggest loser with its sales down 51.1 per cent year-to-date (YTD), despite a turnaround in the month of June that saw sales up 15.3 per cent compared with the same month in 2022.

 

Mitsubishi sold 8725 Tritons (4x2 and 4x4) in the six months compared with 16,920 sales in the corresponding period in 2022 – a 51.5 per cent plunge. In the same period, the 4x4 ute market was up 1.3 per cent. 

 

Individually, compare this with the Ford Ranger 4x4 that was up 29.2 per cent; Isuzu D-Max 4x4 up 4.2 per cent; Mazda BT-50 up 24.4 per cent; LDV up 200.4 per cent; and GWM Ute up 93 per cent. These were tempered by delays affecting the HiLux (down 8.6 per cent) and Navara (down 41.2 per cent).

 

Mitsubishi’s Triton models still retain about 30 per cent of the brand’s Australian sales – in the first half of 2023 it was 28.3 per cent and back in 2018, was 29.3 per cent – so it is not just Triton dragging down the brand.

 

Data from Datium Insights shows of the top 20 losers for the half year, 16 were Japanese manufacturers and four were from South Korea.

 

Again, much of the sales declines are due to production and logistics issues. There are eight Toyotas in the top 20 models, with sales down compared with 2022, opening with the RAV4 and then Corolla, Prado, HiLux 4x4 and 4x2, C-HR, Yaris Cross and Kluger.

 

Much of the fall is related to slower production and the semiconductor shortage combined with rising demand, especially for the hybrid versions – affecting all the models listed here except HiLux and Prado.

 

Sales of the RAV4 are down 33.6 per cent (compared with the first six months of 2022) while the Corolla is down 45.2 per cent; Kluger down 24.9 per cent; C-HR down 42.3 per cent; and Yaris Cross down 38.4 per cent. Despite these sales retreats, Toyota and its dealers report ongoing strength in orders.

 

Other falls include the Kia Cerato (down 62.8 per cent); Suzuki Baleno (own 94.7 per cent as it withdraws from the market); Subaru XV (down 64.6 per cent as it has been replaced by the Crosstrek); Hyundai Kona (down 38 per cent in runout ahead of a new model); and Mitsubishi Pajero Sport (down 49.3 per cent awaiting a new model).

 

Kia said the falls in Cerato and Sportage were related to production issues. It said Cerato sales are rising again and improvements are expected this quarter, while Sportage has already seen increases, up from 859 for the month of April to 1252 in June.

 

Then there were the winners. Datium Insights listed 20 models that accelerated sales in the six months, led by Tesla Model Y and Model 3, the latter up 148.8 per cent. 

 

Model Y is a new model and was not available in the corresponding period in 2022, although its popularity is evident by its 14,002 sales for the six months and with 5560 of those recorded in the month of June.

 

Of the 20 risers, eight are Chinese by build or brand ownership. These include newcomer BYD that sold 6196 in the first six months of 2023.

 

Further new entrants are the Toyota Corolla Cross (which has sold 2966 YTD); Subaru Crosstrek (replacing the XV); and GWM Haval H6 GT which sold 1950 units in addition to the standard H6 sales.

 

Many improvements were on the back of the arrival of new stock after being held back through production issues, including the 278.5 per cent jump in sales of the Volkswagen Tiguan and 263.5 per cent increase in the smaller T-Roc model.

 

A new model and solid stock also rocketed Nissan’s Qashqai to 3269 sales in the half year, up from 576 sold in the previous year’s corresponding period when the previous model was ending its run-out. 

 

Well-received product and a big shipload helped Hyundai sell 10,749 Tucsons, up 46.1 per cent, and did the same for the LDV T60 (4863 sales, up 200.4 per cent); Subaru Forester (8321 sales, up 45.6 per cent); GWM Ute (5291 sales, up 93.0 per cent); GWM Haval Jolion (5523 buyers, up 82.6 per cent); Mitsubishi Outlander (11,342 sales, up 22.7 per cent); and Kia’s Sorento and Carnival, up 87.2 per cent an 48.9 per cent respectively.

 

There were also the regular top sellers with Ford Ranger 4x4 – up 29.2 per cent and 23,620 sales – at the top of the board.