New Zealand’s automotive industry faced challenges in May as new registrations, particularly for light passenger vehicles, dipped for the fifth month.
Registrations plummeted to 10,186, a 23.7 percent decrease from May 2023 (13,354 units) and a 23.6 percent drop from May 2022 (13,337 units). Year-to-date figures for 2024 are 13.3% lower than 2023 and 23.8% lower than 2022.
Key Industry Statistics
Last month, Toyota led the market with a 23.3 percent share (2,375 units), followed by Ford with 14.4 percent (1,464 units), and Mitsubishi with 10.8 percent (1,104 units).
Light passenger vehicles accounted for 6,369 registrations, light commercial vehicles for 3,154, and heavy commercial vehicles for 663.
Internal combustion engine (ICE) vehicles dominated with 7,415 registrations (72.8 percent share), followed by mild hybrids at 2,150 (21.1 percent), battery electric vehicles (BEVs) at 444 (4.4 percent), and plug-in hybrids (PHEVs) at 177 (1.7 percent).
The top segments were Pick-Up/Chassis Cab (25.6%), SUV Medium (20.9%), and SUV Compact (20.5%).
Light Passenger Vehicles
The light passenger vehicle segment experienced a fall in registrations, with May 2024 figures down 33.4 percent from May 2023 and 39.8 percent from May 2022. Year-to-date, there was a 22.0 percent decline compared to 2023 and a 27.1 percent drop compared to 2022.
The Toyota RAV4 led the segment with 761 units (11.9 percent share), followed by the Mitsubishi ASX (328 units, 5.2 percent) and the Suzuki Swift (246 units, 3.9 percent).
Medium SUVs (33.5 percent of light passenger vehicles) and compact SUVs (32.8 percent) were the most popular choices, together making up 81.7 percent of the segment.
Light Commercial Vehicles
Light commercial vehicle recorded 3,154 units registered in May 2024. Year-to-date, the segment showed a 7.3 percent increase compared to 2023.
The Ford Ranger dominated with 1,067 units (33.8 percent share), trailed by the Toyota Hilux (709 units, 22.5 percent) and the Mitsubishi Triton (444 units, 14.1 percent).
Heavy Commercial Vehicles
Contrary to the light vehicle sectors, heavy commercial vehicle registrations showed positive growth, with 663 units in May 2024. This marks an 8.3 percent increase from May 2023 and a 12.8 percent rise from May 2022. Year-to-date registrations were up 12.6 percent compared to 2023 and 22.0 percent compared to 2022.
Fuso led the segment with 96 units (14.5 percent share), followed by Isuzu Trucks (85 units, 12.8 percent) and Ford (65 units, 9.8 percent).
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