New Zealand’s Motor Industry Association said new vehicle registrations were beginning to show signs of improvement but remained soft compared to prior years.

October volume of 12,944 units was the strongest month since the 1 July Clean Car Discount rate changes but 12.2% lower than October 2022 (14,736) and 7.7% lower than October 2021 (14,019).

Year to date, 2023 was 9.1% lower than 2022 (12,535) and 8.8% below 2021 (12,062).

The top three overall market leaders in October 2023 were Toyota with 27.4% share, Ford 10.8% and Kia 8.7%.

Light passenger vehicles accounted for 10,054 sales, light commercials 2,194 and heavy commercials 696.

The overall top three segments were SUV Medium (29.5%), SUV Compact (20.1%) and 4×4 Pick Up/Chassis Cab (11.8%).

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