New Zealand recorded 9,430 new vehicle registrations in July, marking a 21 per cent decline compared to 2023 and a 23 per cent drop from 2022.
The Motor Industry Association (MIA) reports that this suggests the market is beginning to stabilise, despite the figure falling short of the year-to-date (YTD) monthly average of 10,315.
“The stabilisation in July reflects the resilience of the New Zealand automotive industry,” said MIA Chief Executive Aimee Wiley.
Light Passenger Vehicles
In July, 6,345 light passenger vehicles were registered, representing a 21.2 per cent decrease from July 2022 and a 36.4 per cent drop from 2021. Changes to the Clean Car Discount policy significantly impacted the July 2023 figures. YTD, light passenger vehicle sales are down 28.9 per cent compared to 2023 and 27.8 per cent lower than 2022.
Business buyers accounted for 47.0 per cent of sales (2,981 units), private buyers 45.3 per cent (2,872 units), and rentals 4.3 per cent (272 units). The top-selling light passenger models were the Toyota RAV4 (394 units), Kia Seltos (342 units), and Mitsubishi ASX (311 units).
Light Commercial Vehicles
Registrations of light commercial vehicles reached 2,505 units in July, more than double the number from July 2023 and slightly higher than July 2022. However, registrations are 2 per cent lower than in the same period in 2023.
Business buyers led the market with 79.4 per cent of sales (1,990 units), followed by private buyers at 17.8 per cent (446 units), and rentals at 2.8 per cent (69 units). The top-selling light commercial models were the Ford Ranger (757 units), Toyota Hilux (589 units), and Mitsubishi Triton (270 units).
Heavy Commercial Vehicles
Heavy commercial vehicle registrations totalled 580 units in July, reflecting a 12 per cent decrease from July 2023 but a slight increase from July 2022. YTD, registrations are 4.9 per cent higher than in 2023 and 16.3 per cent higher than in 2022.
Business buyers represented 82.9 per cent of sales (481 units), private buyers 8.3 per cent (48 units), and rentals 4.8 per cent (28 units). Leading the heavy commercial segment were Isuzu Trucks (68 units), Fuso (64 units), and Hino (62 units).
While economic pressures have led to a decline in light passenger vehicle sales, the commercial vehicle segments have shown stability and even growth. This mixed performance highlights the industry’s ongoing adaptability amidst fluctuating economic conditions.
