Fiscal year and lockdowns stall sales
THE SPORTS CAR MARKET enjoyed a fruitful end to the financial year. However, it proved far less robust than the larger mainstream segments in the aftermath, with registrations falling from 1215 in June to just 649 across July, as the 2022 financial year begins.
That’s a significant 46.6% drop in month-on-month registrations. For comparison’s sake, overall sports car registrations fell just 32% (1331 to 903) across the same EOFY period last year.
While most monthly sales figures this year have shown strong improvements compared to 2020’s efforts, exhibiting a returning buyer confidence and recovering market, the brakes seem to have been well and truly pumped in recent weeks. This is largely due to the fact much of Australia’s east coast has been plunged into lockdown as they struggle to stay on top of Covid-19.
The most affordable sub<$80K segment is generally the most durable, however, it shrunk by a whopping 58%, posting 664 registrations in June and just 279 over July. All frequent top scorers posted significant slumps. Registrations for the ever-popular Mustang fell 67% from 437 in June to 142 last month. The segment’s second most popular entrant, the Mazda MX-5, fell by 43% from 111 to 63 registrations, but actually increased market share from 16% to 20% thanks to the Mustang’s sharp decline.
The mid-range $80K<$200K segment similarly posted a 38% shrinkage, falling from 440 new registrations in June to 274 over July. BMW’s popular 4 Series suffered the most, with new registrations falling almost 40%, a little worse for wear than its C-Class arch nemesis that fell 33.5%. The BMW maintains a volume advantage, having sold 35 more units than the Three-Pointed Star this year.