New car sales figures fell overall for the first time in 11 months, but sales of electric vehicles (EVs) continue to rise.
According to the latest figures from the Federal Chamber of Automotive Industries (FCAI), 74,650 new vehicles were sold in October, down 8.1% year-on-year.
FCAI chief executive Tony Weber said it was clear manufacturers were having issues with supply chains.
“Automakers, like all of the global manufacturing sector, are facing a shortage of microprocessors which is causing longer wait times to bring products to market,” Weber said.
“Australians continue to buy vehicles and automakers are working hard to deliver products to our shores.”
Despite a decline in overall sales, FCAI reported an increase in sales of electric vehicles in October, in line with new state and territory incentives for electric vehicles revealed across the country.
More recently, the federal government released details of the first national strategy on fuels and vehicles of the future, supported by an expanded investment of $ 250 million from the Future Fuels Fund. Of this amount, $ 178 million should be devoted to the development of electric vehicles and hydrogen infrastructure.
If you are looking to switch to an electric vehicle or other low emission vehicle, or if you are buying a car with a standard gasoline engine, RateCity’s car loan rankings could help you find some of the green, new, or cool cars. most competitive opportunity. loan products to finance your purchase.
To help you start your research, RateCity has rounded up some of the top rated auto loans for November 2021.
(Rankings are correct at time of posting. Please note that lenders may swap places on the list as interest rates and fees change and RateCity’s tracker reflects those movements.)