Australian Car Statistics 2024: Car Loans, Car Sales & More

Here’s our one-stop shop for all things car stats.
Last modified: 15th May 2024
William Jolly  |  

Want to know how many cars are sold in Australia? Or what the average cost is? Maybe you want to know how much you should spend on car repayments or your ongoing costs.

This page contains all things car stats to help you find out.

On this page:


Download the FastMoney App now!


Car loan statistics

Here’s where you’ll find info on:

How many Australians use a car loan?

According to 2021 research by Finder, around 14% of Australians have a car loan, which is around 2.7 million people! About 19% had previously taken out a car loan at some point.

All these car loans are worth billions. Each month, the Australian Bureau of Statistics (ABS) publishes lending statistics. The most recent data in this series from April 2023 shows the total value of new car loans was over $1.14 billion. That’s more than a billion car loans being taken out monthly.

While the number and value of car loans taken out took a sharp hit during the pandemic as car sales dropped, this monthly figure was as high as $1.3 billion in August 2022.

What’s the average car loan repayment in Australia?

A considerable chunk of Aussies take out a car loan or another form of finance to pay for their new wheels. Since cars tend not to be cheap, the ongoing costs of a car loan - known as your car loan repayments - can be a significant expense for several years.

According to the Australian Automobile Association’s (AAA) Transport Affordability Index, car loan repayments rose significantly in 2023 due to higher car prices and interest rates. The average household spends $9,533 per year on car loan repayments, an increase of over $1,400 from the previous year.

That makes car loan repayments the single most significant car expense, which makes sense, considering that’s usually the bulk of the purchase price.

Here’s what the typical car loan repayments are in each capital city, in order of most expensive to least expensive:

CityAverage annual car loan repayment
Perth$9,637
Sydney$9,599
Melbourne$9,557
Canberra$9,551
Adelaide$9,496
Darwin$9,478
Brisbane$9,477
Hobart$9,469

Check out our loan repayment calculator to estimate what yours might be.

Car sales statistics

Every month, the Federal Chamber of Automotive Industries (FCAI) publishes a ‘VFACTS’ car sales report, which is the primary source of car sales data in Australia.

Using this data and other sources, let’s look at the following:

How many cars are sold in Australia?

According to the FCAI’s annual data for 2022, a total of 1,081,429 vehicles were sold across Australia. This is slightly higher than in 2021, when 1,049,831 vehicles were sold.
Note that FCAI’s data is for new vehicles only: while used car data can be more challenging to obtain, our used car market is estimated to be even greater, with more than three million sold yearly.

Toyota is far and away Australia’s most popular brand of car, with more than double the number of sales of the second most popular brand, Mazda.

The top 10 most popular car brands in Australia, based on FCAI’s annual data for 2022, are as follows.

BrandNo. of sales
1.Toyota231,050
2.Mazda95,718
3.Kia78,330
4.Mitsubishi76,991
5.Hyundai73,345
6.Ford66,628
7.MG49,582
8.Subaru36,036
9.Isuzu Ute35,323
10.Volkswagen30,946

Toyota continues to dominate the list of most popular cars. In 2022, FCAI’s data showed Toyota has four vehicles in the top 10, with the Hi-Lux sitting comfortably ahead of the pack.

ModelNo. of sales
1.Toyota Hi-Lux64,391
2.Ford Ranger47,479
3.Toyota Rav 434,845
4.Mitsubishi Triton27,436
5.Mazda CX-527,062
6.Toyota Corolla25,284
7.Toyota Landcruiser24,542
8.Isuzu Ute D-Max24,336
9.MG ZS22,466
10.Hyundai i3021,166

How many electric vehicles are sold in Australia?

Electric vehicle sales are starting to get into gear in Australia. In 2022, 33,410 new electric vehicles were sold, according to FCAI, or 3.1% of all motor vehicle sales. That might not sound like a lot, but that’s a more than 50% increase from the 20,665 sold in 2021. Back in 2011, fewer than 50 electric cars were bought!

Between January 1 and April 30 2023, sales of electric cars tripled compared to the same period the previous year. Nearly 24,000 have been bought already, nearing 2022’s total for the whole year!

Here are Australia's five most popular electric car models based on the latest data up to May 2023:

ModelNo. of sales (YTD)
1.Tesla Model 310,117
2.Tesla Model Y8,442
3.BYD Atto 31,448
4.MG ZS EV1,400
5.Polestar 2896
Source: The Driven.

Average car costs

Looking to get a good deal on your next purchase? This section contains some data on the typical costs for the following:

What does a new car cost in Australia?

As of 2023, the average transaction price for newly bought cars in Australia has hit record highs amid severe stock shortages and high demand driven by the pandemic. 

According to Drive, the average advertised RRP (recommended retail price) has surged by 13% over the past four years, and the average drive-away price has gone up 23% in that time.

Meanwhile, data compiled by Canstar Blue found that Aussies spend an average of $40,916 on new cars. The average amount spent on small cars is only $26,346, while new sedans bring an average spend of $45,728 and SUVs $40,453

What does a used car cost in Australia?

Used cars are almost as expensive as new ones in 2023 due to supply shortages, although this is expected to be short-lived. Moody’s Analytics Used Vehicle Price Index shows that used car prices peaked in mid-2022 at a whopping $39,000, a significant increase from $27,000 just two years prior.

As of 2023, average used car prices across Australia are 13.2% lower but are still well above pre-pandemic levels. Historical figures from Redbook.com.au show the average price of a used car in Australia was usually around $19,000 to $22,000.

What does an electric car cost in Australia?

Electric cars are much more expensive than internal combustion engine (ICE) cars, due to several factors, such as a lack of models, charging infrastructure and the materials needed to build them. According to a survey by RACV, 77% of Australians said the purchase price would discourage them from buying an EV.

Sales price data from the Electric Vehicle Council (EVC) shows that of the 45 EV models available in Australia in 2022, the average price was well over $100,000. According to Compare the Market, meanwhile, the average petrol and diesel cars insured through its platform had a market value of $30,000 to $40,000, while the average market value range for EVs was $60,000 to $70,000.

Fully electric cars range in price from around $44,990 up to $200,000 and above.

Australian motoring statistics

The latest motor vehicle census by the ABS in 2021 found there were 20.1 million registered vehicles in the country. Petrol-powered cars accounted for 71.7% of the national fleet, with 26.4% comprising diesel. The remainder is made up of electric and hybrid vehicles.

The ABS also collects information on:

Average distance travelled by car

The average distance travelled per year, according to the ABS, is 11,100 kilometres for passenger vehicles. Overall, these cars travelled nearly 163 billion kilometres between them!

Average fuel economy

The average fuel economy for passenger cars in Australia is 11.1L/100 kilometres.

Average vehicle age

We like to hang onto our cars in Australia, with the average age increasing to 10.4 years in 2021. Tasmanians held onto their cars the longest, with the average car age at 12.9 years; ACT residents, on the other hand, get a new car every 9.4 years.

  • New South Wales: 9.7 years
  • Victoria: 10.3 years
  • Queensland: 10.1 years
  • South Australia: 11.9 years
  • Western Australia: 11.2 years
  • Tasmania: 12.9 years
  • Northern Territory: 9.9 years
  • Australian Capital Territory: 9.4 years

Costs of owning a car

Running a car is not cheap, often costing thousands of dollars per year when you factor in:

And more. The Australian Australian Automobile Association (AAA) publishes quarterly data detailing how much each of the above costs annually. On average, the typical Aussie household puts more than 15% ($21,485) of their take-home income towards transport costs each year. 

See also: The costs of owning a car.

Average petrol costs

Petrol prices have been sky-high since the beginning of 2022, primarily driven by the Russian invasion of Ukraine. In June 2022, for example, the average unleaded petrol price hit $2.20 per litre

Here’s how much the typical household spends on petrol in a year as of Q1 2023:

Average annual cost

Change (from Q4 2022)

Average capital city

$4,889

-$108

Average regional centre

$5,061

-$183

Highest - Hobart

$4,985

-$148

Lowest - Perth

$4,722

-$148

See our guide to saving money on fuel in 2024.

Average insurance costs

Comprehensive car insurance is the most popular type of vehicle insurance. In the event of an accident, comprehensive insurance covers your own vehicle damages and other involved vehicles. Different types of car cover include Third Party Insurance and Third Party Fire and Theft Insurance.

Car insurance is a significant cost for households, and it has increased by nearly $200 a year for the typical home to nearly $2,000.

Average annual cost

Change (from Q4 2022)

Average capital city

$1,960

$181

Average regional centre

$1,605

$110

Highest - Melbourne

$2,527

$316

Lowest - Perth

$1,186

+$235

See also: Why you need car insurance for a car loan.

Average registration, CTP & licensing costs

In Australia, your car needs to have Compulsory Third Party (CTP) insurance, which covers personal injuries to others in the event of an accident. Depending on your state, this may or may not be included in your registration cost.

On average, Australian households pay over $1,600 a year for these costs.

Average annual cost

Change (from Q4 2022)

Average capital city

$1,605

-$1

Average regional centre

$1,533

+$7

Highest - Canberra

$2,085

-$33

Lowest - Hobart

$1,202

$0

Average servicing, repairs & depreciation costs

There is a range of factors that influence the price of servicing and repairing your vehicle when needed. On average, your household could be looking at an average yearly cost here of $1,760.

Average annual cost

Change (from Q4 2022)

Average capital city

$1,760

+$80

Average regional centre

$1,666

+$78

Highest - Canberra

$2,278

+$93

Lowest - Adelaide

$1,440

+80

See also: Most expensive car repairs.

The cheapest cars to run

One of Australia’s peak motoring bodies - RAC - regularly compiles insights on all these running costs (and more) to work out the cheapest and costliest cars to own. 

RAC’s 2022 Car Running Costs guide found that the following cars were the most affordable to own in each category:

Category

Make and model

Total monthly running costs

Light vehicle

MG3 Core

$707.66

Small vehicle

Toyota Corolla Ascent Sport

$895.46

Medium vehicle

Toyota Camry Ascent 2.5 Sedan

$1,079.69

People mover

Hyundai Staria 3.5 V6 FWD

$1,543.61

Electric vehicle

MG ZS EV

$1,122.43

Medium SUV

Toyota RAV4 GXL

$1,193.07

4WD Ute

GWM Cannon 2.0 dual cab pickup

$1,212.47

The most expensive cars to run

Out of the cars measured, the five most expensive cars to run each month were:

Make and model

Total monthly running costs

Nissan Y62 Patrol Ti

$2,337.33

Toyota Landcruiser 70 Series Workmate

$2,049.82

Hyundai Palisade

$1,664.39

Toyota Prado GX

$1,658.08

Nissan Navara ST

$1,551

Need a car loan?

Jacaranda Finance offers fast online car loans for up to $25,000 with loan terms of up to 48 months. By applying for an online car loan with Jacaranda Finance, you could receive pre-approval for funding on the same day2, helping you get on the road on your terms.

Apply online or via our FastMoney app today!

Written by - William Jolly

Content Manager
William is the Content Manager at Jacaranda Finance. He has worked as both a journalist and a media advisor at some of Australia's biggest financial comparison sites such as Canstar, Compare the Market and Savings.com.au, and is passionate about helping Australians find the right money solution for them.

You can get in touch with William via williamj@jacarandafinance.com.au.
Related Topics