Car registrations

Keep an eye on the EV market

2 Jul 2021

Our take on the latest Car registrations (Fri 2 Jul 2021)

New car registrations up 39%pa in June
Used car registrations down 5.9%pa
Resurgence in rental cars

The key numbers...

  • There were 21,577 cars registered in June 2021, an 11%pa rise. Seasonally adjusted the June quarter was a 6.6% improvement on the March quarter.
  • New car registrations were strong, up by 39%pa in June, or 18% from June 2019, although used cars remain soft, down 5.9%pa.
  • There were 394 new electric vehicle registrations (pure EVs and Plug-in hybrids) in June (up 112%pa), and 129 used electric vehicle registrations (down 53%).
  • There were 750 new rental car registrations in June. This is the strongest result since COVID-19, although still 31% below June 2019.

New EVs overtake used EVs

Registrations of pure electrics and plug-in hybrids, annual running total
3949

...and our reaction

  • The June quarter was strong for passenger car registrations, although the pace of recovery was stronger for new cars compared to used. Supply issues appear to be more restrictive in the used car market.
  • New electric vehicle purchases are in strong recovery, although used electric vehicle registrations have faltered slightly. The electric vehicle rebate scheme and higher fuel prices provide a stronger economic argument for buying an electric vehicle.
  • Rental car registrations are picking up for winter tourism. Australia made up nearly half of all winter tourist arrivals in 2019. If the Trans-Tasman bubble is taken full advantage of, it will be a huge relief to tourist operators. Unfortunately, recent lockdowns in Australia and NZ will cause disruptions, there is currently a temporary pause on travel with New South Whales.