Australia Passenger Car Market Report and Forecast 2025-2034

Australia Passenger Car Market Outlook

The Australia passenger car market size reached USD 61.035 billion in 2023. The market is expected to grow at a CAGR of 8.20% between 2024 and 2032, reaching almost USD 122.457 billion by 2032.

Key Takeaways:

• According to FCAI, Australia's automotive industry recorded over a million new vehicles registration in 2022, with SUVs and light commercials making up 76.8% of sales, including eight of the top 10 vehicles. Electric cars constituted 3.1% of sales.

• As per The Australian Electric Vehicle Association (AEVA) LTD, the ACT Government's Transition to Zero Emission Vehicles Action Plan saw 7,233 battery electric vehicle registrations by March 1, 2024.

• The industry has been witnessing a steady increase in vehicle prices over the years.

Hybrid vehicles are driving the Australia passenger car market growth by combining internal combustion engines with electric motors, enhancing fuel efficiency and lowering consumption

Hybrid vehicles provide fuel efficiency by merging gasoline and electric power, lowering emissions for environmental advantages. They lead to cost savings, quiet operation, regenerative braking, improved resale value, and effective performance, promoting an eco-friendly image.

Electric cars bring environmental benefits through zero tailpipe emissions, decreasing air pollution and greenhouse gases. The Australia passenger car market developments are attributed to fuel savings technologies, government incentives, smooth performance, advanced technology, extended range, and quieter operation, enhancing driving experiences while supporting public health.

Renault launched the Renault Megane E-Tech in Australia, a blend of hatch and mini-SUV. It became the first purpose-built electric car offered by the renowned French manufacturer.

Market Segmentation

Australia Passenger Car Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Vehicle Type

• Compact SUV

• Hatchback

• SUV

• Sedan

Market Breakup by Fuel Type

• Diesel

• Hybrid

• Petrol

• Electric

Market Breakup by Application

• Commercial

• Personal

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

The Australia passenger car market key players are Toyota Motor Corporation Australia, Mercedes-Benz Australia/Pacific Pty Ltd., Ford Motor Company of Australia Pty Limited, Honda Australia Pty Ltd, and Nissan Motor Co. (Australia) Pty Ltd among others.

Key Highlights of the Report