New Zealand’s new vehicle market continued its steady start to 2026, with total registrations reaching 10,190 units in February, a 3.9 per cent increase compared with the same month last year.
The result marks a second consecutive month of year-on-year growth and extends the positive momentum established in January.
Year-to-date registrations now total 21,997 units, up 6.5 per cent on the first two months of 2025. Both passenger and commercial segments are contributing to growth, with passenger registrations reaching 16,176 units (+7.4 per cent) and commercial vehicles totalling 5,821 units (+4.0 per cent).
Motor Industry Association (MIA) Chief Executive Aimee Wiley said the figures reflect steady demand across the market.
“February’s results show moderate growth across both passenger and commercial segments. Light passenger vehicles continue to account for around 70 per cent of registrations, while the commercial sector is performing strongly, driven by business investment and fleet replacement,” she said.
Passenger market driven by SUVsand emerging brands
Passenger vehicle registrations in February reached 7,138 units, up 1.9 per cent on the same month last year. SUVs remain the main driver of demand, supported by rental and government fleets.
According to NZ Transport Agency Waka Kotahi, Toyota retained its position as the leading passenger brand with 946 registrations, though this represented a 37.7 per cent decline compared with February 2025, giving it a 13.3 per cent market share.
Kia (673 units) and Mitsubishi (646 units) followed, while Hyundai recorded a 233.8 per cent rise to 524 units, largely on the back of strong Tucson sales, vaulting the brand from 12th to 4th place year-on-year.
Chinese brands continued to make gains, with BYD rising 175.5 per cent to 292 units and Chery entering the top 12 with 195 registrations.
The Hyundai Tucson was the best-selling passenger model in February with 418 units, displacing the Toyota RAV4 (369 units). Other top models included the Mitsubishi ASX (308), Ford Everest (275), MG ZS (243) and Kia Seltos (233). New entrants such as the Chery Tiggo 4 Pro (130 units) and BYD Sealion 5 (92) also made notable contributions.
Commercial vehicle segment strong
The commercial vehicle market posted 3,052 registrations, up 9.2 per cent on February 2025. Ford dominated the segment, with 907 units (29.7 per cent market share), followed by Toyota (569 units) and Nissan (411 units), reflecting ongoing strong demand for popular models such as the Ford Ranger and Nissan Navara. Other key performers included Mitsubishi Triton (259), Toyota Hiace (260) and Ford Transit (141).
Ms Wiley noted that while heavy commercial vehicles remain slightly below last year’s levels year-to-date, February’s lift is encouraging. “The market is showing measured, orderly growth rather than sharp acceleration, and conditions remain competitive but stable,” she said.
Motive power trends
Hybrid electric vehicles continue to play a significant role in the passenger segment, while battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) are growing steadily in both passenger and light commercial categories.
Internal combustion vehicles still account for the majority of total registrations, with the overall motive power mix remaining consistent with recent months.
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