Covid-19 has wreaked havoc all over the world, and we’ve been through the most testing times of our lives during these past couple of years. See covid’s effect on car purchase.
The pandemic didn’t just affect the health sector but had an impact on every area of our lives, with the car market in Australia no exception. The uncertainty in the market led to price fluctuations, never-ending waitlists, and delayed deliveries. Even if you hired the services of a car broker, you had to experience unprecedented waiting times, and car prices were never the same.
New Car Waiting Times Hit The Highest In Recent History
When the pandemic started in Australia, the usual waiting times for new cars saw a 250% increase, and the average waiting time for most models went over 6 months*.
According to data compiled using information from car brokers, car dealers, and buyers who shared a vehicle’s price and the estimated date of delivery, the average wait times for new vehicles in Australia have increased from 36 days to 126 days between January 2020 and January 2022.
Western Australia has seen the longest waiting times across the country, where the deliveries take around 157 days on average. The situation worsened because of ongoing border closures and the increasing demand for the LandCruiser 300 and Toyota HiLux, which at the start of 2022, had national waiting times of 200 and 155 days on average.
Many car brokers in Australia believe that the waiting times for LandCruiser 300 are expected to go up across the country, as Toyota has already warned about production shutdowns in Japan because of COVID-19-related parts shortages.
Varying Waiting Times For Different Brands And Models
While the overall situation of the car market in Australia is not so welcoming, the waitlists and delayed deliveries vary for different brands and car models. Earlier, we saw Toyota claiming reduced waiting times for LandCruiser 300 series, but the delivery periods remained long for LandCruiser 70 Series, Toyota RAV4 Hybrid, and Camry Hybrid.
The average waiting times for RAV4 have peaked at 270 days, courtesy of hybrid variants’ high demand. Similarly, the wait times for Tesla Model 3 have increased yet again, with the customers being given one-year waiting times for their deliveries. No definite timeline is given for the delivery of Model Y vehicles. The recent delays have been attributed to Tesla’s gigafactory shutdown in Shanghai.
The good news for car brokers and customers is that we have already seen these numbers coming down slightly from December 2021 for certain models. If you’re interested in buying a new car quickly, get in touch with the best car search brokers around. As a guide, Peugeot has maintained the quickest delivery times of 42 days, followed by Honda (55 days), MG (60 days), Jeep (63 days), and LDV (65 days).
Car Prices Have Skyrocketed Since the Pandemic
While data and our own experience as a used car broker show a massive increase in used car prices since the pandemic began, we have also seen a significant increase in the prices of new cars in Australia.
By March 2022, the average new car price has gone up by 7.6% from the pre-pandemic rates.
For some manufacturers, the average list prices have risen by up to 17%. In fact, there are models that have seen as much as a 40.3% hike in price since the pandemic.
With the market situation deteriorating further, find a reliable Brisbane car broker and get the best deals on the market now! Your car broker stands a good chance of getting you below-market rates with reduced waiting times, and with the added bonus of concierge services, you’ll be in your new car quicker than you thought possible.