New Zealand’s double digit growth is sustainable says Industry body

Across the Tasman, the new car market in New Zealand experienced another month of double-digit growth in May.

The president of the Motor Industry Association of New Zealand which represents the new vehicle distributors suggests the growth is sustainable.

Passenger car and SUV registrations of 8387 units were up a decent 11.8% (885 units) on May 2016. There were 4745 commercial vehicle registrations for the month of May, up by a massive 29% (1067 units) on May 2016. It was not only the strongest month of May on record for the registration of new commercial vehicles, but the strongest month ever since the MIA began collecting vehicle stats in 1975.

“Registration of 13,132 vehicles for the month of May confirms that the growth seen so far this year is sustainable and shows every sign of continuing,” association president Glynn Tulloch says. “Low interest rates, strong net immigration, strong New Zealand currency and robust domestic economy continue to underpin the sales of new vehicles.”
Year to date the new vehicle sector is 14% (7809 units) ahead of this time last year with 63,244 vehicles registered compared to 55,435 to the end of May 2016.

Toyota remains the overall market leader in New Zealand with 18% market share (2370 units), followed by Ford with 11% (1495 units) and Mazda, Holden, and Mitsubishi all with 8% market share (1072 / 1029 / 1028 units).

Toyota was also the market leader for passenger and SUV registrations in New Zealand with 15% market share (1245 units) followed by Mazda with 11% (886 units) and Holden with 8% market share (681 units). The top selling passenger and SUV models for the month were the Toyota RAV4 (391 units) followed by the Mazda CX-5 (330 units) and the Kia Sportage (302 units).

In the commercial sector, Toyota was again the market leader with 24% (1125 units) followed by Ford with 20% (971 units) and Mitsubishi a distant third with 11% market share (501 units).

The Ford Ranger remains at the top of the bestselling vehicle model table in New Zealand with 889 units, closely followed by the Toyota Hilux in second with 819 units, and the Mitsubishi Triton third with 501 units. Year to date the top three selling models are Ford Ranger with 3800 units followed by the Toyota Hilux with 3105 units and the Toyota Corolla with 1827 units.

For the month of May, four of the top five vehicle segments were dominated by SUV’s and Utes (Pick Up/Chassis Cab), the SUV medium segment being the most dominant with 18% share (2305 units) followed by Pick Up/Chassis Cab 4×4 with 16% (2112 units), then SUV large with 12% (1568 units), then Pick Up/Chassis Cab 4×2 on 10% (1347 units), and the 5th being passenger small with 9% and 1244 units.