New Zealand’s new vehicle market opened 2026 with higher registrations than a year earlier, but industry leaders are urging caution as economic uncertainty continues to weigh on buyer confidence.
Official data shows 11,807 new vehicles were registered in January, up 8.7 per cent from 10,858 year-on-year. Growth was strongest in the passenger segment, while commercial vehicles edged lower.
Motor Industry Association chief executive Aimee Wiley said the result marked an improved start to the year, but warned against reading too much into a single month.
“These results indicate improving conditions, but the market continues to remain sensitive to broader economic and confidence settings,” Ms Wiley said.
Passenger growth offsets softer commercials
Passenger vehicle registrations climbed 12.1 per cent year-on-year to 9,038 units, supported by higher rental fleet activity and steady business demand. Private buyer activity, however, eased slightly.
Commercial registrations slipped 1.1 per cent to 2,769 vehicles, reflecting softer demand in a segment dominated by one-tonne utilities.
Electrified vehicles show uneven progress
Battery electric vehicle registrations remained low at 761 units, representing 6.4 per cent of the market. While this was a higher share than January last year, it remains well short of the pace required to meet Clean Car emissions targets.
Several high-profile EV brands recorded slow starts to the year, including Tesla, which registered just 12 vehicles.
BYD led the EV segment, with the new Atto 1 recording 94 registrations, followed by the Atto 2 on 71.
Plug-in hybrid vehicles accounted for 738 registrations, or 6.3 per cent of the market. The BYD Sealion 6 topped the category with 86 units, ahead of the Haval H6 on 75.
Hybrid electric vehicles continued to dominate electrified demand, accounting for 3,312 registrations, or 28.1 per cent of total sales.
Toyota leads passenger market
Toyota remained the leading passenger brand with 1,868 registrations, up 10.5 per cent year-on-year, securing a 20.7 per cent market share.
The Toyota RAV4 was January’s top-selling passenger model with 641 registrations, followed by the Corolla Cross (334) and Yaris Cross (284).
Mitsubishi recorded the strongest growth among major brands, surging 61 per cent to 1,070 registrations. Kia followed with 990 units, up 15.4 per cent, while Ford recorded 441 passenger registrations, a 17.6 per cent increase.
Suzuki, Nissan and Honda posted the sharpest declines, falling 24.7 per cent, 43.7 per cent and 23.3 per cent respectively.
Commercial segment led by Ford Ranger
Ford held the top position in the commercial market with 775 registrations, up 20.7 per cent year-on-year, ahead of Toyota on 485.
The Ford Ranger again dominated the segment with 688 registrations, comfortably ahead of the Nissan Navara on 405.
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