July 2023 registrations of new vehicles in New Zealand plunged to less than half of the average monthly rate following a record-breaking month for new car sales in June.
According to the latest data from the Motor Industry Association (MIA), only 6,202 vehicles were sold last month, representing a 49.6 percent drop compared to the average of the first five months of 2023.
This decline in registrations was anticipated as people rushed to dealerships in June before the new Clean Car Discount policy took effect in July.
New Car Registrations by the Numbers
The top three most registered models for July 2023 were the Toyota RAV4 (319 units), the Ford Everest (265 units), and the Kia Niro (184 units).
Toyota led the market in July 2023, capturing 16.7 percent of the market share, followed by Ford with 14.5 percent, and Kia with 8.1 percent.
Medium-sized SUVs held the highest share at 24.7 percent, followed by compact SUVs at 19.2 percent, and large SUVs at 8.2 percent. The small and medium segments together accounted for 56.7 percent of all new car registrations in the same month.
Zero and Low-Emission Vehicle Registrations
A total of 787 new fully electric vehicles were registered in July 2023. The Tesla Model Y was the most popular EV with 169 units sold, followed by the Kia Niro with 147 units and the Volkswagen ID.4 with 63 units.
For plug-in hybrids (PHEVs), 406 new registrations were recorded, with the Mitsubishi Outlander (141 units), Mitsubishi Eclipse Cross (89 units), and the Lexus NX (27 units) being the top three models.
Hybrid sales reached 1,150 units in July, with the Toyota RAV4 leading the category with 307 units. The Hyundai Tucson followed with 113 units, and the Honda Jazz with 75 units.
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