An expected slowdown in new vehicle registrations did not materialise in New Zealand which saw a record 10,313 February new vehicle registrations last month, up 4.4% year on year.

Sales consisted of 7,192 passenger vehicles and it was also a record February for commercial vehicles with 3,121 sold. 

Toyota maintained its margin over the rest of the sector with 15% market share (1,559 units), followed by Ford (12%; 1,266) and Holden (9%; 894).

The top three selling models last month were all LCVs - Ford Ranger with 6% market share (582 units), followed by the Toyota Hilux (4%; 444) and the Mitsubishi Triton (3%; 289).

Passenger vehicle sales rose 1.9% year on year led by Toyota, Mazda and Holden. Perennial model chart leader Corolla slipped back to third place in the passenger car market behind the Kia Sportage and Mazda CX-5 which tied for top spot. 

LCV sales were up 10.6% led by Ford, Toyota and Mitsubishi.  The Ranger was top selling model for February.

The SUV medium segment along with the Pick Up/Chassis Cab 4x4 segments took 13% each of the market in February, followed by small passenger cars with 12%. 

"Strong net immigration, a healthy tourism sector and a competitive market are helping to drive new vehicle sales which is already year to date 3% ahead of this time last year," the local Motor Industry Association said in a statement.

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