Rising sales of new commercial vehicles are leveling off and New Zealand’s Motor Industry Association has lowered its expectation of breaching the 130,000-unit mark this calendar year.
Total new vehicle registrations for July were up 1% to 10,366 and 75,928 YTD. Toyota remained overall market leader with an 18% share followed by Ford (10%) and General Motors’ Holden with 9%. Year to date, Toyota, Holden and Ford continued as overall market leaders.
New passenger car registrations rose 2.8% to 7,272 vehicles last month and year to date sales reached 53,586. That was the strongest July tally since 1986.
Toyota was also passenger model leader with 16% share followed by Mazda (10%) and Holden (9%). Year to date, Toyota, Holden and Mazda remained the leaders. After being displaced in recent months, Toyota’s Corolla returned to the top slot in July followed by sibling RAV4 and Mazda’s CX-5 (241 vehicles).
New commercial vehicle registrations were down 4.6% to 3,094 vehicles in July and Toyota also led this segment with a 22% market share followed by Ford (17%) and Holden (11%).
As it has for months, Ford’s Ranger remained top selling commercial vehicle followed by the Toyota Hilux and Holden Colorado. Ranger was also top YTD with 16% market share followed by the Hilux (14%) and Nissan Navara (9%).
The Ranger was also the top selling vehicle overall in July followed by the Hilux and Corolla – respectively also the most popular models year to date.
Sports utility vehicles remained the dominant vehicle segment (35% July, 33% year to date). Pickups/chassis cabs were next (21% July and YTD) and small passenger vehicles achieved 13% share last month and 14% YTD.
MIA CEO David Crawford said: “In recent months overall growth has slowed with registrations of new commercial vehicles [leveling off]. Registrations of new commercial vehicles in July were down 4.6% in July 2014, reflecting recent general indicators elsewhere in the economy.
“Sales of new vehicles remain strong but, in line with other economic indicators, further growth above current levels is uncertain. Looking ahead, while registrations of new vehicles for the 2015 year are likely to be above the record 127,179 achieved in 2014, they are unlikely to break the 130,000 barrier for the first time which we previously anticipated might be possible.”