New Zealand’s Motor Industry Association said 12,049 registrations of new vehicles in June showed the market was weakening in the face of raising costs of living, high fuel prices, continued vehicle supply constraints and a weakening economy.
Registrations of 9,563 passenger cars and SUVs were down 7.2% year on year while the tally of 2,486 new commercial vehicles was a plunge of 48.5% versus June 2021.
Sales were “likely to remain subdued in coming months due to the effect of the clean car taxes”, the MIA said.
Overall, June registrations of all new vehicles were down 20.4% year on year while, year to date, the market has now slipped below 2021, down 3.1% compared to H1 2021.
Small to medium segments accounted for 67% of June registrations and 57% year to date.
SUV medium took a 26% share followed by SUV compacts (22%) and SUV large (12%).