Ann: Becoming a substantial holder, page-7

Froze, you heard right. See below published in the AFR overnight.

This improving car sales is great news for SIQ as is the increasing demand for EV's which when included in a salary package arrangement are very attractive to employees.


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Utes and EVs drive new vehicle sales to May record


Simon Evans
New vehicle sales in Australia jumped by 12 per cent to a record for May as a big backlog of deliveries arrived. Two ute brands were the biggest sellers, followed by the Tesla Model Y, which is No. 3 across all types.
Global production has been increasing as manufacturers make inroads into order backlogs and semiconductor shortages ease. The transition to electric vehicles is also adding impetus.
However, some in the industry warn that many orders that underpinned the booming result for last month would have been made last year, although demand is still solid despite the rising cost-of-living pressures.
Sales across the industry increased by 12 per cent to 105,694 in May compared with the same month a year ago. That eclipsed by 2.7 per cent the previous highest sales volumes set in May 2017.

The biggest seller in May was the Toyota HiLux ute, with 5772 sales, followed by the Ford Ranger ute with 4110. The Tesla Model Y was in third spot with 3178 sold, and is also the biggest selling electric vehicle model. The Toyota RAV4 SUV was the No. 4 model overall at 2616.

The Federal Chamber of Automotive Industries, which collects the new vehicle sales figures on behalf of car dealerships and automotive companies, said yesterday that for the first five months of calendar 2023, new vehicle sales were up 4.3 per cent to 456,833.

FCAI chief executive Tony Weber said it was a clear sign that the supply of new vehicles was getting better, although he acknowledged that logjams at ports and order backlogs continued, frustrating buyers.
‘‘This result is a signal that we are starting to see some improvement in supply,’’ he said.
There was some caution creeping into the industry, Mr Weber said, although demand remained solid.
Mr Weber said a large proportion of the vehicles delivered last month would have been ordered in the previous year.
‘‘Since then, we have seen a shift in economic conditions with a focus on rising cost pressures for households and businesses,’’ he said.

Battery-powered electric vehicles comprised 7.7 per cent of total sales across Australia last month. When plug-in hybrid and hybrid versions are included, vehicles with some form of electrification represented 15.6 per cent of the total market.

Keith Thornton, the chief executive of Eagers Automotive, Australia’s largest car dealership group with 200 showrooms, said on May 24 that it would take two years to fully run down the group’s order book.
Sales were also being bolstered by the steady shift to electric vehicles as more motorists made a conscious decision to switch, even before their internal combustion engine vehicle needed to be replaced.
Eagers has the Australian retail rights to the BYD electric vehicle brand, backed by American billionaire investor Warren Buffett.
Toyota was the No. 1 brand in Australia last month with sales of 18,340 units. Mazda was second at 8475 and Hyundai third at 7078.
Tesla, the electric vehicle pioneer built up by the world’s richest person, Elon Musk, was the No. 8 brand overall in Australia with sales of 4476, making up 4.2 per cent of the overall market.