All things automotive –2023 a good start to the year

New vehicles sales in the first month of 2023 were a phenomenal 12 percent up in January last year – and to many people that would indicate we’re returning to preCovid normality.

It’s really not the case, but I’m pleased to report to all our loyal guests who’ve valued waiting a while for their Toyota rather than settling for something less, that there is light at the end of the tunnel.

A lot of the January deliveries were pull throughs from 2022, not really reflecting the state of preparedness of the motor industry to meet forward demand.

At Sydney City Toyota, we’ve worked to put ourselves in a good stock position. For a start we have two dealerships –at Waterloo and Glebe and that means we have access to double the new vehicle allocation.

And we’ve also worked the Toyota network, sourcing new vehicles from Toyota colleagues around the country.

The bottom line is that as some of our competitors in the industry find that they can no longer maintain the supply they had at the beginning of the year, chances are we’ll be ramping up.

That’s the joy of being market leader. Of the 65 car makes on offer, Toyota is Number One by a substantial margin, and that means even if there is a dip, we’re still in control of the lion’s share of the supply-pie.

In fact, we’re anticipating some of our guests who did go elsewhere may soon want to be trading their recent purchases as they move back to the brand they’ve always trusted.

I can’t make light of the cost of living. For so many people the situation heralds a major restructure of finances and lifestyle. But I would like to offer a word advice: have a look at your car loan and shop it around.

A lot of our guests have bundled their car loan into their house mortgage and right now that’s probably costing them money.

Carving out the car loan could save heaps. In fact, right now loans from the automotive financiers look pretty good stacked up against the banks.

During Covid, we entered a cash economy. Those days are pretty much gone. If people have surplus cash, they’re most likely to reduce their prime mortgage. Which is why securing an attractive car loan becomes doubly important.

John Roca, Dealer Principal