Will Australian new car prices stop rising? Industry titan weighs in
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Returning to our old routines after enduring the disruptions of 2020 has been a bumpy ride for many of us, from delays in family visits to shopping no longer being the carefree experience it used to be.
But one of the greatest frustrations has been the new-car price rises experienced since last year.
Australian new car buyers have had to endure an additional strain on their wallets, with the escalating prices of vehicles becoming unmanageable.
Neville Crichton, Chairman of the Ateco Group responsible for importing and distributing four major car brands in Australia, recently spoke about what he's expecting in the coming years regarding this issue.
Crichton pointed out that the sustained price increases have been partially rooted in the global semiconductor shortage and COVID-19 production delays, but have also had a lot to do with the lack of roll-on, roll-off boats which usually ship the vehicles in—a shortage that began in the early days of the pandemic.
'That’s been the biggest problem, getting cars here,' Crichton commented. 'We can produce the cars in China, we can’t get the shipping.'
But the good news is that he is predicting these shipping issues to be resolved as early as 2024, with seven new roll-on, roll-off boats coming on stream. As a result of these developments, the car expert anticipates that new car prices will finally begin to even out.
Some carmakers have also been getting creative about how they transport their vehicles to Australia.
Ford, for instance, has rented their ship to bring the Ranger and Everest in from Thailand. Other brands like BYD have opted to use sealed containers, driving their cars straight into them after manufacturing to avoid any potential quarantine delays.
Fortunately, these measures already appear to be having a significant impact as the car industry reports a sharp spike in sales over the past few months.
‘The last three or four months, you’ll have seen our sales have come up, and that’s more the fact that we can get the cars here,’ Crichton stated.
According to reports, carmakers are seeing much better stock availability, and Toyota Australia has recently confirmed that wait times for new cars in the country will drop significantly by the end of 2023.
Sean Hanley, Vice President of Sales, Marketing and Franchise Relations for Toyota Australia, confirmed the optimism of the industry with regards to new car stock availability.
'The momentum began to shift in the second quarter of this year when dealer throughout was 25 per cent higher than that of the first quarter,' he said.
As more people get bigger cars, the need for more and bigger parking spaces should also be a cause for concern. Read more about the story here.
What do you think of this story? Let us know in the comments below!
But one of the greatest frustrations has been the new-car price rises experienced since last year.
Australian new car buyers have had to endure an additional strain on their wallets, with the escalating prices of vehicles becoming unmanageable.
Neville Crichton, Chairman of the Ateco Group responsible for importing and distributing four major car brands in Australia, recently spoke about what he's expecting in the coming years regarding this issue.
Crichton pointed out that the sustained price increases have been partially rooted in the global semiconductor shortage and COVID-19 production delays, but have also had a lot to do with the lack of roll-on, roll-off boats which usually ship the vehicles in—a shortage that began in the early days of the pandemic.
Car Expert Neville Crichton says that we should expect car prices to even out by early 2024. Credit: Wheels Magazine
'That’s been the biggest problem, getting cars here,' Crichton commented. 'We can produce the cars in China, we can’t get the shipping.'
But the good news is that he is predicting these shipping issues to be resolved as early as 2024, with seven new roll-on, roll-off boats coming on stream. As a result of these developments, the car expert anticipates that new car prices will finally begin to even out.
Some carmakers have also been getting creative about how they transport their vehicles to Australia.
Ford, for instance, has rented their ship to bring the Ranger and Everest in from Thailand. Other brands like BYD have opted to use sealed containers, driving their cars straight into them after manufacturing to avoid any potential quarantine delays.
Fortunately, these measures already appear to be having a significant impact as the car industry reports a sharp spike in sales over the past few months.
‘The last three or four months, you’ll have seen our sales have come up, and that’s more the fact that we can get the cars here,’ Crichton stated.
According to reports, carmakers are seeing much better stock availability, and Toyota Australia has recently confirmed that wait times for new cars in the country will drop significantly by the end of 2023.
Toyota Australia said that there will be more vehicle availability by the end of 2023. Credit: Toyota Australia
Sean Hanley, Vice President of Sales, Marketing and Franchise Relations for Toyota Australia, confirmed the optimism of the industry with regards to new car stock availability.
'The momentum began to shift in the second quarter of this year when dealer throughout was 25 per cent higher than that of the first quarter,' he said.
As more people get bigger cars, the need for more and bigger parking spaces should also be a cause for concern. Read more about the story here.
What do you think of this story? Let us know in the comments below!
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Thailand 
etc and amazing how many are recalled for problems 
