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Market Scan – Issue 07 | December 2023

VFACTS NOVEMBER: CAR INDUSTRY SET FOR ALL-TIME SALES RECORD

Sixth record monthly result sets Australia up for 1.2m new-car sales in 2023 as Ranger and HiLux slug it out for top billing

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ELECTRIC CARS AVAILABLE IN AUSTRALIA

Australia’s electric car market is growing healthily as the supply of new models available for sale aims to meet the changing demands of buyers.

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POWERING AUSTRALIA TOWARDS A SUSTAINABLE FUTURE

The Electric Vehicle (EV) Council paints an ambitious picture: to meet our climate goals, by 2030, more than 50 per cent of new cars sold will need to be electric, a leap from just 8 per cent in 2023.

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HYUNDAI GIVES FLEETS ANOTHER HYBRID OPTION

The second-generation Hyundai Kona is primed to be an even more popular fleet choice than the previous version, thanks in no small part to the addition of a new hybrid option. 

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HAVE WE BEEN OVER-HYPING HYDROGEN?

A leading think tank says hydrogen is being over-hyped, and is calling for investment to be better targeted to ensure a sustainable industry.

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MARKET INSIGHT: BYD AIMS FOR POLE POSITION

BYD’s Toyota-toppling aim in Aus gains perspective as it nears 3m global annual sales

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TOP SEVEN ELECTRIC VEHICLE INSURANCE RISKS

Are these risks slowing down EV uptake?

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ULTRA-RAPID ELECTRIC SUPERHIGHWAY LINKING MELBOURNE, SYDNEY AND BRISBANE IS JUST MONTHS AWAY: CHARGEFOX CEO

The chief executive officer of EV infrastructure provider Chargefox says his charging network will soon enable Australian EV owners to rapidly travel between Sydney and Melbourne and rocket between Sydney and Brisbane using their purpose-built 350kW fast chargers.

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HINO CLAIMS SUCCESSFUL 2023 DESPITE SOFT SALES

Hino Australia has reflected on another strong and consistent year while setting out its priorities for the future as it moves into 2024. With a month remaining in 2023, Hino forecasts it will finish 2023 at a similar volume to 2022.

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GOVERNMENT PLEDGES $16.3 MILLION FOR ENHANCED VEHICLE SAFETY

The Australian Government has reaffirmed its support for the Australasian New Car Assessment Program (ANCAP), pledging $16.3 million over the next five years.

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GLOBAL CARSHARING IS BOOMING, EXPECTED TO REACH 270 MILLION SUBSCRIBERS BY 2027

The most recent reports explain the reasons for the global carsharing boom and highlight issues standing in the way of a complete transformation in future urban mobility.

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SMES ENTER HOLIDAY SEASON WITH GROWTH AMBITIONS AMID ECONOMIC HEADWINDS

The latest wave of the Fifth Quadrant SME Sentiment Trackerindicates that in the face of escalating business challenges, a significant number of small and medium-sized enterprises (SMEs) are shifting their focus towards growth. 

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EV BATTERY SWAPPING: PEUGEOT & JEEP PARENT CONFIRMS TRIAL PROGRAM FOR SPAIN

Stellantis, the world’s fourth-largest carmaker by volume, will use the Spain market as a testbed for an EV battery swapping trial.

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COSTCO AUSTRALIA WANTS TO SELL YOU A NEW CAR

Costco Australia members can get discounts on new cars, but only in New South Wales, Queensland or Victoria for now.

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REGIONAL COUNCILS NOT TAKING UP TFNSW ROAD SAFETY PROGRAM

Only half of NSW’s regional councils have participated in the state government’s road safety program despite “a disproportionate amount of trauma” occurring on regional roads, a report says.

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NEW MITSUBISHI ELECTRIC SUV TO BE ANOTHER RESTYLED RENAULT

A restyled Renault – with different lights and badges – will form the basis of the first Mitsubishi electric vehicle for Europe in more than a decade.

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SHAPING THE FUTURE OF MOBILITY

Emerging mobility technologies present tremendous potential for safety and accessibility improvements in urban mobility—but only if the public and private sectors work together to adopt them in a thoughtful and balanced way.

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HÖEGH AUTOLINERS AND SUMITOMO CORPORATION TAKE THE HELM IN SUSTAINABLE TRANSPORTATION OF CARS, HIGH AND HEAVY MACHINERY AND BREAKBULK

Sumitomo Corporation and Höegh Autoliners are charting a greener course in deep-sea transportation of Ro-Ro cargo, such as cars, high and heavy machinery and breakbulk, by forging an agreement to look into the supply of clean ammonia as a bunker fuel at the ports of Singapore and Jacksonville, USA from 2027 onwards.

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HINO FINALLY CAPITALISES ON HYBRID TRUCK OPPORTUNITY

The lower emissions and reduced operating costs of the 300 Series Hino Hybrid Electric continue to win customers for Hino Australia, resulting in record sales.

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INDUSTRY SLAMS LUXURY CAR TAX ADJUSTMENT THAT WILL SEE MORE ‘GREEN’ CARS SLAPPED WITH TAXES

The Federal Government has announced that it will tighten the requirements for a vehicle to be considered ‘fuel efficient’ when the Luxury Car Tax (LCT) applies.

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