New vehicle registrations in New Zealand slumped to less than half the typical monthly average in July 2023 at 6,202 units, 44.1% lower than July 2022, 54.9% lower than the 2022 monthly average and 49.6% lower than the average of the first five months of 2023.

However, following the market high in June and low in July, year to date, 2023 registrations are now only 2% lower compared to YTD 2022.

Motor Industry Association chief executive Aimee Wiley said a decline in registrations was expected this month for the market to rebalance following the record month of June.

"What is concerning is the extent of market disruption generated from Clean Car Discount policy changes. This will likely be causing unnecessary complexity and uncertainty for distributors, the dealership network and the entire supply chain associated with automotive throughout the country."

July 2023 new vehicle registrations of 6,202 was the lowest monthly tally since April 2011 (excluding the April 2020 Covid lockdown).

Toyota achieved 16.7% market share followed by Ford on 14.5% and Kia with 8.1%.

July registrations were: Light Passenger 4,347, Light Commercial 1,196 and Heavy Commercial 659.

Categorised by motive power, July registrations were: 826 BEVs, 406 PHEVs, 1,150 Hybrids and 3,820 ICE vehicles.  

The top three light passenger vehicles for the month were Toyota RAV 4 (319 units), Ford Everest (265), and Kia Niro (184).

The top three light commercial vehicles were Ford Ranger (518 units), Toyota Hilux (270) and Iveco Daily (82).

The top three segments in July were SUV Medium (24.7%), SUV Compact (19.2%) and 4x4 Pick Up/Chassis Cab (14.1%).