Registrations of 12,023 new vehicles in October was the best for the month since New Zealand’s Motor Industry Association (MIA) started collecting records in 1975. The 2014 year to date tally was 106,582 units.
“Not only are distributors of new vehicles closing in fast on the total new vehicle sales of 113,297 units for all of 2013, they are also on track to exceed the highest ever annual total for new registrations, which was 123,247 units in 1984,” MIA CEO David Crawford said.
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October registrations of 12,023 new vehicles were up 1,327 units (12%) year on year. Passenger vehicle sales reached 8,910 and commercials 3,113.
Year to date, commercial registrations were 20.7% up year on year with passenger vehicle sales up 10.4%.
October passenger registrations of 8,910 units were up 11.9% year on year with CV volume of of 3,113 up 13.8%.
Toyota was overall market leader in October with 26% market share (3,102 units) with Ford second on 11% (1,358) and General Motors’ Holden third with 10% (1,218).
Toyota’s Corolla was the top selling new vehicle model in October with 1,257 new registrations, followed by the Ford Ranger (627) and Toyota Hilux light trucks (514).
Toyota remained passenger car market leader in October with a 27% share (2,395 units) followed by Holden (11%; 966) and Hyundai (8%; 673).
Toyota was also commercial vehicle market leader with a 23% share (707 units) followed by Ford (22%; 691) and Holden (8%; 252).
The Corolla was again the top selling passenger model with 14% market share (1,257 units), followed by its Yaris sibling (5%; 438) and the Holden Commodore (3%; 294).
Toyota’s October results were boosted by strong rental sales of 936 Corolla and 311 Yaris.
The Ford Ranger remained top selling commercial model for October with a 20% market share (627 units) followed by the Hilux (17%; 514) and Holden Colorado (8%; 235).
Year to date, the Ranger has stretched its lead as the top selling commercial model with a 16% market share (5,061) followed by the Hilux (16%; 4,778).
Sports utility vehicles continued to be the strongest selling segment in New Zealand with 26% of all October registrations, followed by small passenger cars (23%) and pick-ups/chassis-cabs (18%).
“Healthy economic confidence combined with competitive pricing is fuelling strong demand for new vehicles. The long-run price of new vehicles in real terms continues to improve; over the last 20 years the CPI has increased by 57% while the real price of vehicles has decreased by 22.5%, a difference of nearly 78% compared to 1994,” noted Crawford.
