Sales hit all time high
The registration of 16,670 new vehicles last month has resulted in the strongest October ever and also set a new monthly record for any month of the year ever, reports the Motor Industry Association (MIA).
Chief executive officer David Crawford, pictured, says this means registrations of new vehicles have “hit an all-time high”, with the previously single strongest month being June 2017 when there were 15,985 sales meaning October 2018 came in 7.3 per cent higher, or by 1,140 units.
Year to date, the market is up by 1.7 per cent – or by 2,301 units – compared to the first 10 months of 2017. Registrations of 11,767 passenger cars and SUVs in October were up 653 units on October 2017, an increase of 5.9 per cent, and sales of 4,903 commercials rose by 487 units or 11 per cent.
Toyota topped the ladder for marques with a 30 per cent market share and 4,998 units for its strongest month, which was built on high rental sales. It was followed by Holden with nine per cent and 1,435 units, and Ford with eight per cent and 1,288 units.
Toyota retained the market lead for cars and SUVs with a 33 per cent share of October’s passenger and SUV market thanks to 3,875 units, followed by Mazda with nine per cent and 1,078 units, and Holden also with nine per cent but 1,024 units.
In the commercial sector, Toyota retained the market lead with market share of 23 per cent market share and 1,123 units. It was followed by Ford with 20 per cent and 978 units. Holden was third with eight per cent and 411 units.
With a strong rental market during October, it was no surprise the top-selling model was Toyota’s Corolla on 1,744 units, of which 1,539 were rentals. It was followed by the Toyota RAV4 with 996 units and Ford’s Ranger in unfamiliar territory in third with 876. However, year to date, the Ranger still holds the top model spot with 8,306 units followed by Toyota’s Hilux with 6,760 units and the Toyota Corolla on 5,830.
The top three segments during October were all medium to small vehicles. The medium-sized SUV segment retained its lead with 18 per cent market share, followed by small vehicles with 16 per cent and compact SUV compacts on 13 per cent.
“The strong result in October is off the back of car-rental companies renewing their stock and is a vote of confidence by that sector in the strength of the New Zealand tourism market,” says Crawford.
