BUYERS line up for hybrids for lifestyle and environmental rewards while EVs posting only modest growth in October, says the latest Automotive Insights Report (AIR).

Produced by the Australian Automotive Dealer Association (AADA) in partnership with AutoGrab, the AIR shows a national snapshot of used car sales and listings noting that 206,503 vehicles sold during the month, up 2.8 per cent on September.

AADA CEO James Voortman said hybrid sales have more than doubled in the past two years, rising from 6868 in October 2023 to 14,784 vehicles this month.

James Voortman

“Consumers are clearly looking for practical options that deliver lower running costs and emissions without compromising on convenience,” he said.

“Hybrid vehicles are offering that middle ground with a proven technology that suits everyday driving and reflects growing environmental awareness.”

Hybrid listings also increased strongly, up 21.1 per cent month-on-month, highlighting rising supply and consumer confidence in the segment.

While electric vehicle (EV) sales also rose modestly (up 7.9 per cent), the hybrid segment showed the sharpest growth, outpacing both petrol and diesel. 

Saxon Odgers, chief commercial officer at AutoGrab, said it was a market where speed and insight matter. 

“With hybrid and PHEV demand surging, turn-rates are accelerating and operators who are closely tracking live market movements are in the best position to price confidently, source the right vehicles, and protect  profitability,” he said.

“The dealers who succeed through this next cycle will be the ones using on-demand  intelligence to make faster, more informed decisions.”

Overall used car activity remained stable, with total listings easing 3.9 per cent and dealers accounting for 52.4 per cent of all sales.

“We’re seeing a diverse market where buyers are weighing all their options,” Mr Voortman said.“Australians are purchasing vehicles that best suit their needs, whether that’s a hybrid for daily efficiency, a diesel for towing, or an electric vehicle, but there’s a definite trend toward more sustainable choices.”

Mr Odgers said demand was now recovering faster than supply and this shift “was creating real opportunity for dealers who act early. “

“We’re seeing retained values stabilise – and, in many segments, strengthen – which means the aggressive discounting we saw earlier in the year is no longer necessary,” he said.

“Dealers who stay proactive on stock acquisition, especially in high-velocity and electrified categories, will be the ones who win margin back quickest.” 

Looking closer at AIR, listings for petrol-fuelled vehicles were down 6.2 per cent and diesel listings were down 5.7 per cent.

Listings for hybrids was up 21.1 per cent; EVs up 3.9 per cent; PHEVs up 39.9 per cent; and even LPG-fuelled vehicles on the used-car market showed an increase, up 3.0 per cent in the amount of listings.

LPG sales showed a better result, up 50.6 per cent on the previous month with 253 units sold in October, compared with 168 sales made in September.EVs posted for sale were up 3.9 per cent while actual sales were up 78.9 per cent, with only the ACT and NSW showing less EV sales in October compared with September.

The best state for EV sales in October was the Northern Territory which had a 150 per cent increase on September, although the rise was a modest five units compared with two the previous month.

Victoria topped the list with 940 EV sales, up 12.7 per cent.

Saxon Odgers

Tesla was the highest-selling EV market with 511 sales of its Model 3 in October and 296 of its Model Ys. However, both were down significantly on September by 32.2 per cent and 26.7 per cent respectively.

Average days to sell a used vehicle in October broke an eight-month downward trend. It now averages 44.8 days to sell.