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Saturday, June 25, 2022

Micro cars showing big growth

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Australia’s tiniest and cheapest cars are selling up a bit of a storm lately, bolstered at least in some cases by solid supply lines and made more appetising by current record used-car prices and spiking fuel costs.

Year to date, sales in this Micro Car segment are up 77.4 per cent – the entire car market is up 22.7 per cent – to 7255 sales. Market share has subsequently grown from 0.6 to 0.8 per cent.

Small numbers, but notable at scale. That’s additionally the best market share this segment has managed since 2016.

The Kia Picanto dominates with 5599 sales YTD and 78.6 per cent annual growth. The Mitsubishi Mirage has found 1083 buyers, up 102.4 per cent. The Fiat 500 has nabbed 573 sales, up 36.4 per cent.

On this theme, there are other small and cheap vehicles belonging to other segments that are booming: the MG 3 is up 98.4 per cent to 11,545 sales and tops the Light segment, and the cute Suzuki Ignis pocket-sized SUV is up 287.4 per cent to 1573.

Discussions with various car brands that compete at the small and cheap end of the market have told me that they have decent supplies.

MORE: The 10 cheapest cars on sale in Australia, feature breakdown

For instance Kia has long wait times on halo products like Sorento but decent stock of Picantos, which use fewer semiconductors, while Suzuki has been able to furnish its dealers with stock of Ignis models to a greater extent than some other cars.

MORE: Australian used-car prices likely to stay high until mid-2022
MORE: The hybrid SUVs coming to combat high fuel prices
MORE: Staggering impact of semiconductor shortage on car industry revealed
MORE: Stock shortages, worst October in 20 years

MORE: Stock shortages, production cuts all over as chip crunch hits

Previous monthly reports

  • September 2021 Australian new vehicle sales (VFACTS)
  • August 2021 Australian new vehicle sales (VFACTS)
  • July 2021 Australian new vehicle sales (VFACTS)
  • June 2021 Australian new vehicle sales (VFACTS)
  • May 2021 Australian new vehicle sales (VFACTS)
  • April 2021 Australian new vehicle sales (VFACTS)
  • March 2021 Australian new vehicle sales (VFACTS)
  • February 2021 Australian new vehicle sales (VFACTS)
  • January 2021 Australian new vehicle sales (VFACTS)

Got any questions about car sales? Ask away in the comments and I’ll jump in!

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