SUV sales surge to new record high

More than one in three cars sold in Australia are SUVs, the highest on record.

Hyundai ix25 SUV

Sales of SUVs have surged, as Australians enjoy the best car affordability in 40 years. (AAP)

Sales of SUVs have surged to a record high as Australians enjoy the best car affordability in 40 years.

They made up 35 per cent of all vehicle sales in February.

This was the highest proportion of the overall vehicle market in the 21-year history of monthly Australian Bureau of Statistics figures.

CommSec chief economist Craig James said consumers were increasingly embracing SUVs because of their practicality as free-trade agreements also made cars cheaper from Japan, South Korea and Thailand.

"SUV sales are at record highs," he said.

"SUVs have greater versatility, a higher driving position, four-wheel drive and the ability to carry more passengers."

Australia vehicle sales grew by 2.9 per cent in February to 95,737, with 33,516 SUVs sold.

But St George senior economist Hans Kunnen said fears of a weakening Australian dollar may have been behind the sales increase.

Meanwhile, car affordability is at the best level since 1975, with a Ford Falcon costing 24.2 weeks of average wages, CommSec calculations show.

The Hyundai ix35 was Australia's most popular SUV in February, followed by the Mitsubishi ASX and Nissan's Qashqai.

But the Toyota Corolla and Mazda3 were Australia's most popular cars.


Share

2 min read

Published

Updated

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world