After months of growth April new vehicle registrations in New Zealand dipped 2% year on year in April to of 10,423 units, reflecting the local Motor Industry Association said, "a stable market".

Year to date sales rose 1.4% to 50,744.

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Registrations of 6,848 passenger and SUV vehicles were down 2.1% last month while deliveries of registrations of 3,575 commercial vehicles was off 1.8%.

Toyota, as usual, was overall market leader with a 13% share followed by Ford (11%) and Mazda (9%). 

But Mazda topped passenger and SUV registrations (11%) followed by Toyota (10%) and General Motors' Holden (8%).

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In commercials, Ford regained its lead (from Toyota) with a 22% share followed by the arch-rival (17%) and Holden (9%).

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Light commericials were four of the top five selling models in April with the Mazda CX-5 SUV splitting the list in third spot. The Ford Ranger was back at the top with 745 units followed by the Toyota Hilux (457) and the CX-5's 317. 

Pick Up/Chassis Cab 4×4 was top segment last month, accounting for 15% of sales. This was closely followed by SUV Medium (15%), and SUV compact (14%). The top five segments were all light commercial vehicles and SUVs, reflecting the ongoing popularity of these vehicles in New Zealand. 

"The market for new vehicles remains at historically high levels with registrations underpinned by a range of economic factors. Net immigration, while reducing, is still elevated based on long term trends, new vehicle prices remain competitive and the economy is stable," said MIA CEO David Crawford.