Overall, 2008 was a challenging year for car sales in Australia and Oceania as the global financial crisis impacted consumer confidence and spending. Car sales declined across the board, and the market experienced a shift towards smaller, more fuel-efficient vehicles. Car sales in Australia experienced a notable decline in 2008. A total of 962,689 new vehicles were sold, marking a decrease of approximately 8.7% compared to the previous year. The decline in sales was primarily attributed to the impact of the global financial crisis, which led to reduced consumer confidence and tighter lending conditions. Passenger cars fell 6.32% to 596,765 units. Despite the overall decline, some segments showed relative strength. The sales of small cars and fuel-efficient vehicles increased as consumers sought more economical options. Brands such as Toyota, Holden (General Motors), and Ford continued to be popular, with the Toyota Corolla emerging as the best-selling model in the Australian market.
In other countries of Oceania, including New Zealand and the Pacific island nations, car sales were also affected by various factors, including the global financial crisis and regional economic conditions. In New Zealand, car sales experienced a decline in 2008. The total new vehicle registrations reached 87,048, reflecting a decrease of approximately 3.5% compared to the previous year, with passenger cars seeing a bigger decrease of 5.24%, to 73,397 units. Similar to Australia, the impact of the global financial crisis affected consumer confidence and led to cautious spending. Toyota, Ford, and Holden were among the top-selling brands, with the Toyota Corolla and Ford Falcon leading the sales charts.
