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Market Scan – Issue 14 | July 2024

STRONG NEW VEHICLE SALES FOR THE FIRST HALF OF 2024

Australian customers took delivery of 119,659 new vehicles during June to mark the end of the 2023-24 financial year.

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AMIDST THE SHRAPNEL OF MISINFORMATION FLYING THROUGH THE AIR, ONE PARTICULARLY DANGEROUS FRAGMENT CAUGHT OUR ATTENTION

Management Consultants McKinsey, published a report that ‘alleged’ that “29% of electric vehicle owners consider to switch back to a traditional combustion engine car.”

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EV BATTERY PASSPORTS BEING PUSHED TO CUT DANGEROUS WASTE IN AUSTRALIA

Calls to introduce a ‘passport’ for Electric Vehicle batteries in Australia have spearheaded conversations at an ongoing federal inquiry, amid fears our battery recycling industry is unprepared for the future influx.

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WA MACK MUSTER DONATES $500,000 TO CANCER RESEARCH

The team behind the WA Mack Muster were delighted to hand over a cheque for $500,000 to the Harry Perkins Institute this week.  

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2024 MITSUBISHI TRITON LINE-UP EXPANDED TO APPEASE NOVATED LEASE CUSTOMERS

Mitsubishi Australia will soon add more variants to its Triton line-up after a payload increase left it out of reach for novated lease customers.

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MORE GRANTS OFFERED FOR EV CHARGING NETWORK, INCLUDING KERB-SIDE AND PULL-THROUGH BAYS FOR TOWING

The New South Wales state Labor government has announced another $73.5 million worth of grants to accelerate the rollout of public electric vehicle (EV) charging infrastructure to make it easier for motorists to charge their EVs.

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FIVE REASONS TO CONSIDER AN ELECTRIC CONSTRUCTION MACHINE

Volvo CE has various electric models in Australia, available through official distributor CJD Equipment, among them the ECR18 and ECR25 Electric compact excavators, and the L25 Electric wheel loader.

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MAZDA’S METRIC FOR SUCCESS IS MORE THAN JUST SALES NUMBERS

Mazda’s long-held number two position might be under threat from Ford, but its metric for success is more than just sales numbers.

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EU SEES SURGE IN PHEV SALES

SALES of plug-in hybrid electric vehicles (PHEVs) have regained momentum in Europe as buyers – particularly business buyers – seek to secure tax benefits ahead of incoming legislative changes.

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JAPAN STRIKES BACK!

Not since the heyday of the ’80s and early ‘90s has its car industry been so confident and progressive, taking wild chances when – in the past – things would have been played way too safe.

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SECOND-HAND ELECTRIC CAR SALES MORE THAN TRIPLE

Second-hand electric car sales have more than tripled over the past year, according to a major vehicle reseller, despite a recent slowdown in new EV sales.

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NEW SMART EV RANGE ANNOUNCED FOR AUSTRALIA: PRICES DETAILED

The prices and specifications for the new generation of all-electric, Chinese owned Smart vehicles, scheduled to arrive in Australia by September, have been released.

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FORD RANGER TREMOR CONFIRMED, HYUNDAI IONIQ 5 UPDATED AND MORE

Ford has finally confirmed the Range Tremor for the Australian market and Hyundai has updated its Ioniq 5 electric SUV.

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WHY BYD IS A NIGHTMARE FOR TOYOTA, TESLA, HYUNDAI AND FORD AS THE BYD SHARK PLUG-IN HYBRID UTE AND BYD SEAL ELECTRIC CARE SPEARHEAD ITS SALES GROW

Sales are up more than 54 per cent in the first half of 2024, spurred on by the introduction of the Seal electric sedan and the new Sealion 6 plug-in hybrid.

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VOLVO BLAMES CHINA FOR FORECAST GROWTH CUT

VOLVO CARS has lowered its full-year retail sales forecast citing the impact of European tariffs on Chinese-made electric cars.

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LUXURY CAR TAX LIMIT INCREASES FOR FY24/25 

Each financial year, the Australian Taxation Office (ATO) revises the thresholds for the Luxury Car Tax (LCT).

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2025 NISSAN PATROL: US LAUNCH CONFIRMED, AUSTRALIAN RELEASE PENDING

The 2025 Nissan Patrol, known as the Armada in the US, is set to arrive in US showrooms by the end of the year. An Australian release is expected within 12-18 months.

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TESLA PROFITS SLIDE AMID SALES DECLINE, AGREESIVE PRICE CUTS

A slowdown in Tesla sales – and significant price cuts amid growing competition from Chinese brands – have taken their toll on the US electric car giant’s profit margins.

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INDUSTRY INSIGHTS: TRENDS, STRIDES AND FUTURE PROJECTIONS IN FLEET MANAGEMENT

Dr. Steve Nuttall, Director of Fifth Quadrant, delivered a keynote presentation titled “Fleet Insights 2024: Navigating the Road Ahead” at the 2024 Australasian Fleet Education & Leadership Summit, May 2024 Rosehill Gardens, Sydney.

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