Motor Industry Association (MIA) chief executive Aimee Wiley puts New Zealand’s “soft” new-vehicle market for August down to “First rebalancing from June’s record month, where savvy purchasers effectively pulled forward registrations to maximise Clean Car Discount (CCD) benefits prior to 1 July rate-card changes.
“Second, current tougher economic conditions: higher interest rates, tighter lending and continued high inflation impacting the cost of living and the willingness or ability to purchase.
“Third, hesitation or reluctance to purchase pre-election, particularly with transport policy changes hinging upon the election result.”
That’s the backdrop for the total August registration figure of just 9808: 32 per cent lower than August 2022, 28.7 per cent lower than the monthly average for last year and 22 per cent lower than the year-to-date average for 2023.
That considered, the old favourites were still the favourites. Ford Ranger led overall (842), followed by Toyota RAV4 (773) and Toyota Hilux (465).
The top three segments for August were SUV Medium (27 per cent), SUV Compact (19 per cent) and 4x4 Pick Up/Cab Chassis (14.2 per cent).
There were 907 battery electric vehicles (BEVs) sold, 780 plug-in hybrid electric vehicles (PHEVs), 2417 hybrids and 5704 internal combustion engine (ICE) vehicles.
Toyota remained the market leader overall with 25 per cent share, followed by Ford and Kia.
NZ’S TOP 10 NEW VEHICLES YEAR-TO-DATE
Ford Ranger (7228)
Toyota Hilux (6310)
Toyota RAV4 (5115)
Suzuki Swift (2922)
Mitsubishi Triton (2689)
Mitsubishi Eclipse Cross (2489)
MG ZS (2470)
Mitsubishi Outlander (2348)
Tesla Model Y (2198)
BYD Atto 3 (2025)