After record November sales, the New Zealand new vehicle market for 2016 has already surpassed 2015's full year tally with one month yet to go and is headiing towards the 140,000 mark for the full year, local lobby group, the Motor Industry Association (MIA) said.
November registrations rose 18.2% year on year to a record 13,740 vehicles while 11-month volume was up 9.5% to 135,544.
Toyota remained market leader in November with 17% market share (2,280 vehicles), followed by General Motors' Holden with 11% (1,579 vehicles) and Ford – also with 11% market share (1,489 vehicles). Year to date Toyota, Ford, Holden, Mazda and Mitsubishi respectively remain the top five overall market leaders.
New passenger car registrations of 9,722 vehicles in November were up 1,607 units (20%) year on year. Toyota remained market leader for passenger vehicles with 16% market share (1,541 vehicles), followed by Holden with 12% (1,169 vehicles) and Mazda with 9% market share (832 vehicles). Year to date, Toyota, Holden and Mazda remain the passenger vehicle market leaders. Toyota's Corolla was the top selling passenger model (581 vehicles) followed by the Hyundai Tucson (381 vehicles) and the Kia Sportage (352 vehicles).
New commercial vehicle registrations of 4,018 vehicles in November were up 513 vehicles (14.6%) year on year. Year to date commercial vehicle registrations are up 5,137 units (14.3%) to 41,136 vehicles and already have passed the 2015 full year tally of 39,135. Ford was the commercial vehicle leader last month with 21% market share (839 vehicles), followed by Toyota with 18% (739 vehicles) and Holden with 10% (410 vehicles).
The Ford Ranger remained the monthly top selling commercial vehicle model with 777 vehicles registered, followed by the Toyota Hilux with 483 vehicles and Holden Colorado with 388 vehicles. Year to date, the Ranger remains the top selling commercial vehicle model with 19% market share (7,949 vehicles) followed by the Hilux with 14% (5,781 vehicles) and the Colorado with 8% (3,492 vehicles).
The Ranger was also the top model overall for the month of November followed by the Corolla and the Hilux.
Sports utility vehicles remain the dominant vehicle segments with 17% market share for SUV medium vehicles followed by 13% for SUV large and the Pick up/Chassis Cab 4×4 with 12%. Registrations of SUV segments for the 2016 year will exceed that of passenger vehicle segments for the first time over a 12 month period.
"Registrations of new vehicles are influenced by the economic environment. In New Zealand, the market is responding to strong net immigration, low cost of debt, strong regional economies and a high level of business confidence. It is expected these favourable economic conditions will continue into 2017, said MIA CEO David Crawford.