Australia is a country of wide expanses, so for millions of Aussies, getting from A to B requires a set of wheels. As of January 2024, over 21.7 million road vehicles were registered across all states and territories, according to the Bureau of Infrastructure and Transport Research Economics (BITRE). That’s an increase of 2.7% compared to the total vehicle registrations recorded in January 2023.
There’s plenty of value and a vast range of insights that can be drawn from digging deep into the data. Savvy has compiled its own primary car finance data, as well as useful secondary sources, to gain a better understanding of where the car sales and loan industries currently sit in Australia.
Car loans in Australia
The value of new car loan commitments across Australia has risen rapidly each quarter since the second half of 2022, peaking at $4.653 billion in the December Quarter of 2024. This has mirrored the increase in both new and used car registrations over the past few years, with the 2,324,805 used cars sold in 2024 representing a 12.1% increase compared to the previous year, according to the Australian Automotive Dealer Association (AADA).
As can be seen in both new and used car sales, though, demand has cooled somewhat in the past six to 12 months compared to the post-pandemic boom. AADA reported that while used car inventory has soared by 31.2% in the first half of the year, sales have only gone up by 1.9% compared to the same period last year.
However, with July 2025 being the strongest on record for new vehicle registrations with 103,097, FCAI Chief Executive Tony Weber says the result is indicative of a gradual uptick in demand.
“We are now seeing confidence return to the market, supported by a recent interest rate reduction and anticipation of further easing”, Mr Weber said.
“Consumers are responding with interest across most segments, particularly utes and SUVs.”
Total registered motor vehicles by state/territory of registration
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| NSW | 6,048,288 | 6,154,783 | 6,295,697 |
| VIC | 5,268,134 | 5,384,177 | 5,514,720 |
| QLD | 4,462,027 | 4,596,947 | 4,752,569 |
| WA | 2,369,230 | 2,437,243 | 2,528,655 |
| SA | 1,519,767 | 1,554,957 | 1,597,655 |
| TAS | 520,433 | 532,157 | 541,140 |
| ACT | 324,177 | 331,413 | 337,854 |
| NT | 164,540 | 166,059 | 168,676 |
| AUS | 20,676,596 | 21,157,736 | 21,736,966 |
| Source: Road Vehicles Australia – January 2024, Bureau of Infrastructure and Transport Research Economics | |||
Most popular cars in Australia
As has been the case for decades now, Japanese automotive giant Toyota reigns supreme on the Australian car market. That much is certainly reflected in Savvy’s sales data from the 2024-25 financial year, where over one in eight cars sold were stamped with a Toyota badge.
When it comes to car models, utes dominated Savvy’s sales figures. The Ford Ranger was the most popular car financed through Savvy, as it was throughout Australia in 2024, while the Toyota HiLux, Mitsubishi Triton, Nissan Navara and Isuzu Ute D-Max made up four of the next five most popular models.
Most popular new cars
Toyota has built a predictably imperious lead atop the charts among car makes in Australia, as of July 2025. It’s sitting marginally behind the numbers it put up over the first seven months of 2024, but still has a lead of just under 87,000 over second-placed Mazda.
Mazda itself will be looking to reclaim its spot in the top two after surrendering it to Ford in 2024. The American carmaker is sitting less than 9,000 units behind Mazda in third with a smaller deficit to overturn than it had at the same stage last year.
The biggest improver of the top ten is BYD, which has more than doubled its numbers so far in 2025 to move into eighth overall with five months to go. The Shark 6 only arrived on our shores this year, but the dual cab ute is currently the 13th-best-performing car in Australia in 2025. On the flip side, Mitsubishi, Isuzu Ute and MG have all seen notable drops in their YTD numbers.
The Ford Ranger isn’t having as good a time of it this year compared to last, with its closest competitor, the Toyota HiLux, trimming the gap to less than 1,500 units up to July. That’s compared to the lead of over 5,000 the Ranger held at the same stage in 2024. Toyota’s Prado is the big mover in the model rankings, shooting up to fourth overall after not having been in the conversation last year.
While there are familiar faces at the pointy end of Savvy’s 2024-25 financial year new car sales figures, a surprise name pops out ahead of the rest: GWM. The Haval Jolion and H6 proved exceedingly popular among our customers last financial year, placing the Chinese manufacturer ahead of Toyota among all new cars financed.
The Ford Ranger reigned supreme among individual model sales, with the Isuzu Ute D-Max following behind in second place ahead of the Jolion, Ford Everest and H6. The Toyota HiLux, which finished behind only the Ranger and Toyota RAV4 in total new car sales across 2024-25, ended the financial year in seventh in Savvy’s sales figures.
With the 2025 Jolion starting from just $25,790, it’s in a cheaper price bracket than popular small SUV competitors like the Kia Seltos (from $30,050), Hyundai Kona (from $32,500), Mazda CX-30 (from $34,060). For the H6, which starts from $33,990, it’s the Hyundai Tucson (from $39,100), Mitsubishi Outlander (from $39,990) and Toyota RAV4 (from $42,260) that it compares favourably to from a financial perspective.
Most popular used cars
AADA has released used car sales figures for the first half of 2025, and it’s clear to see some of the same names popping up as the new car segment. Toyota still maintains a stranglehold on the pre-owned vehicle market, while the Ranger sits comfortably atop the charts for individual models.
However, Holden, which was shuttered at the beginning of 2021, remains a favourite among Aussies, remaining in eighth spot for used car makes so far this year. The Commodore sat just outside the top ten most popular models, even with the final Holden-designed model having taken place back in 2017. Nissan and Volkswagen also appear in the top ten used car makes, despite not being in the same list for new cars.
Used car sales: dealership vs private
There has been a clear shift towards dealership sales this year, as seen in the graph above based on AADA statistics. In the first six months of 2023 and 2024, private sales made up 39.4% and 36.5% of all used car sales, respectively. That number has risen substantially to 46.7% in the first half of 2025.
Toyota led all comers among used cars financed through Savvy in the 2024-25 financial year, with Ford and Mazda a distant second and third. Holden was a top-five car make in this space, with its popularity reflected in our numbers, as was Nissan.
The Toyota LandCruiser was the third-leading seller among Savvy customers, behind only the Ranger and HiLux, with the Mitsubishi Triton and Nissan Navara rounding out the top five. Two Holden models, the Commodore and the Colorado, featured in the best-sellers’ list.
New vs used cars
The average car loan taken out through Savvy across the 2024-25 financial year was $35,999.75. However, that figure is made up of both new and used car loans.
The average new car loan over this period was $50,023.02. Just under 25% of all car loans approved through Savvy throughout the financial year were for new models. By comparison, the average used car loan financed through Savvy over the same timeframe was $32,072.07. Used car loans made up over 75% of all car finance deals approved in 2024-25.
It’s worth noting, though, that different vehicle ages attract different loan amounts. The following graph shows the average car loan size for different ages:
Between July 2024 and June 2025, VFACTS recorded 1,197,006 new car sales and AADA reported 2,346,215 used car sales. This means that 33.8% of all vehicle sales across the financial year were new and the remaining 66.2% were used during the last financial year.
Average vehicle age in Australia: 2022-24
The average age of all cars owned by drivers in Australia was 11.4 years as of the end of 2024. However, the age breakdown of all cars by state and territory over the past three years is as follows:
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| TAS | 12.97 years | 13.21 years | 13.47 years |
| SA | 12.46 years | 12.70 years | 12.86 years |
| WA | 11.87 years | 12.11 years | 12.27 years |
| QLD | 11.29 years | 11.49 years | 11.63 years |
| VIC | 10.84 years | 11.05 years | 11.20 years |
| NT | 10.35 years | 10.47 years | 10.62 years |
| NSW | 10.22 years | 10.44 years | 10.60 years |
| ACT | 9.89 years | 10.21 years | 10.44 years |
| Source: Road Vehicles Australia – January 2024, Bureau of Infrastructure and Transport Research Economics | |||
What is the average car loan repayment in Australia?
According to the AAA, the average weekly car loan repayment across Australia in the March Quarter of 2025 was $210.50. However, breaking that down into averages by capital city shows that, as of the March Quarter of 2025, Perth had the highest average repayment at $213.68 and Brisbane had the lowest at $208.31.
The AAA’s modelling bases its car loan figures on a near-new vehicle financed with a variable rate car loan, but doesn’t disclose the loan amount or interest rate.
Working out the average car loan repayment in Australia is based on two key variables: the size of the loan and the interest rate. The following table shows what the average loan amounts were for different vehicle types and applicants through Savvy in 2024-25 and what their repayments may look like:
| Type of car loan | Loan amount | Loan term | Interest rate | Monthly repayment |
|---|---|---|---|---|
| All car loans | $36,000 | 5 years | 13.25% p.a. | $824 |
| New car loans | $50,023 | 5 years | 10.47% p.a. | $1,074 |
| Used car loans | $32,072 | 5 years | 14.05% p.a. | $747 |
| Good credit car loans | $38,355 | 5 years | 9.68% p.a. | $809 |
| Bad credit car loans | $27,966 | 5 years | 19.25% p.a. | $729 |
| Interest rates based on average rate available for each profile type through Savvy during the 2024-25 financial year. These aren’t necessarily reflective of the rates you’ll receive on your car loan. Calculations are for illustrative purposes only and don’t include costs such as loan fees, motor vehicle duty or other government charges. | ||||
It’s worth noting that the RBA’s national cash rate sat at a 12–year high of 4.35% for the entirety of 2024 and was only decreased in February 2025. This means that the average rate data from the last financial year doesn’t reflect the rates that are currently available in a decreasing rate market, having dropped for the third time in 2025 to 3.60% after the August 2025 RBA meeting.
In reality, your car loan repayments will be based on a wide variety of factors, including your borrowing power, credit score, existing debts and assets, your record repaying similar loans and more. Credit score, in particular, will have a major say in the size and shape of your loan. The following data shows the average car loans approved through Savvy by credit score across the 2024-25 financial year:
Are Australians keeping up with car loan repayments?
According to Equifax’s Quarterly Consumer Credit Report from the June Quarter of 2025, 2.92% of car loans are between 30 and 89 days past due (DPD) and 1.45% are 90 or more DPD, meaning almost 4.5% of all car loans are over 30 days overdue.
The proportion of loans 90 or more DPD increased by 16 basis points compared to the same period the year prior (Q2 2024), with the overall balance of these rising by 7.6% in value.
This speaks to a growing trend of increasing delinquency in the auto loans space, with cost-of-living pressures such as mortgage payments and other personal expenses and debts adding up.
Finder’s Consumer Sentiment Tracker found that car loans ranked as the third-most stressful expense to manage, albeit at only 5% of respondents. The expenses respondents ranked as the most stressful were groceries (39%) and rent/mortgage (37%) as of August 2025.
A car loan in arrears means there is at least some part of the loan outstanding after the payment date has passed.
Electric vehicle statistics in Australia
Electric vehicles have experienced something of a bumpy road when it comes to their sales in Australia. According to sales figures provided by the Australian Automobile Association (AAA), EVs rose from a low of 2,928 sales in the June Quarter of 2022 to a high of 25,552 (and 8.72% market share) in the March Quarter of 2024. Since then, they fell to just 17,901 in the March Quarter of 2025, before rebounding to an all-time high of 29,244 and 9.3% market share.
Despite this uptick in sales, the latest VFACTS data shows that EV registrations in July 2025 are more than 16,000 units behind the same stage in 2024.
EVs briefly overtook hybrid vehicles as the most popular electrified car in Australia in 2023, but the March Quarter of 2025 had them almost 30,000 units behind. They almost halved this gap in the June Quarter, though. Plug-in hybrids (PHEVs) are also rising in popularity, reaching an all-time high of 13,698 quarterly sales in the March Quarter of 2025.
It’s worth noting through these figures that not all carmakers report their full sales figures each month or quarter. Tesla is a prime example of this.
In terms of used electrified vehicles, each segment saw significant growth in the first half of 2025. 92.2% more used EVs were sold up to the end of June than over the same period in 2024, while PHEV sales went up by 96.2%. This growth is to be expected as more people buy into the electrified market and leases taken out during the first big wave of EV growth ending. Used hybrid sales still went up by 42.8%, albeit from a much higher sales base.
| Model | June 2025 YTD deliveries | YoY sales | |
|---|---|---|---|
| Tesla Model Y | 10,431 | -16.7% | |
| BYD Sealion 7 | 3,756 | N/A | |
| Tesla Model 3 | 3,715 | -65.0% | |
| Kia EV5 | 2,765 | N/A | |
| MG 4 | 2,268 | -18.2% | |
| BYD Atto 3 | 1,854 | -50.2% | |
| Geely EX5 | 1,845 | N/A | |
| BYD Seal | 1,609 | -60.7% | |
| BYD Dolphin | 1,337 | 7.1% | |
| Kia EV3 | 1,153 | N/A | |
| Source: VFACTS: June 2025, Federal Chamber of Automotive Industries. | |||
How much do cars cost to run in Australia?
| Capital city | Transport costs per week ($) | Transport costs per week (% of income) | |
|---|---|---|---|
| Sydney | $562.16 | 15.8% | |
| Melbourne | $526.31 | 16.6% | |
| Perth | $473.20 | 15.8% | |
| Canberra | $473.19 | 15.3% | |
| Adelaide | $447.74 | 15.2% | |
| Brisbane | $446.07 | 14.6% | |
| Darwin | $425.16 | 18.2% | |
| Hobart | $414.64 | 16.0% | |
| Capital ave. | $471.06 | 15.9% | |
| Source: Transport Affordability Index, Australian Automobile Association. AAA’s transport cost calculations consist of car loan payments, fuel, insurance, tolls, public transport, registration, CTP and licensing, servicing and tyres and roadside assistance. | |||
While Sydney and Melbourne residents face the highest weekly transport costs of any capital city in Australia by some distance ($562.16 and $526.31, respectively), it’s actually in Hobart where they take up the highest percentage of people’s income. As of the March Quarter of 2025, this sat at 18.2%, ahead of Melbourne (16.6%) and Darwin (16.0%).
Brisbane went from being one of the most expensive places to pay for transport to one of the cheapest, thanks in large part to the Queensland Government slashing public transport fares to $0.50 in the second half of 2024. Transport costs peaked at 19.6% of total income in the June Quarter of 2024, before plummeting to 14.6% by the March 2025 Quarter.
Car loans by age of borrower
Another interesting area of analysis is the age of car loan applicants throughout Australia. According to Savvy data from the 2024-25 financial year, the average age of all approved car loan applicants was 39 years old, with a median age of 38 and mode (most common) age of 33.
Generation Y is the best-represented generation in Savvy’s data, borrowing the most on average and accounting for over half of all loans approved across the financial year (50.7%). A quarter of all applicants were born in Generation X (25.6%), while a further 20.0% came from Generation Z.
Being a younger generation with the shortest time spent in the workforce, it makes sense that Generation Y applicants would be more likely to need a car loan than someone from an older generation who’s spent more time building their wealth. This is especially the case as they approach an age where starting a family and buying a house are other big-ticket items.
That’s also why it’s understandable that Baby Boomers borrow the least and make up such a small percentage of Savvy’s approved car loan deals (less than 4% of all deals in the 2024-25 financial year). Approaching retirement (if not already retired) and more likely to be asset-rich than younger generations, taking out a loan is less likely to be on their radar.
