The Motor Industry Association’s (MIA) latest report on new vehicle registrations for July 2022 shows a significantly weaker market when compared with the same time last year.
Registrations of cars and SUVs were down 19.4 per cent for the month when compared with July 2021. That’s 1935 fewer units on the road.
Commercial vehicle registrations took more of a hit as they were down 39.8 per cent for the month. The MIA says they are likely to remain subdued in the coming months due to the effect of clean car taxes.
Overall, registrations of new vehicles were down 26.3 per cent on July 2021. Year to date the market is down by 6.6 per cent or 6547 units.
Low numbers of new car registrations are thought to be brought about by rising living costs, high fuel prices, continued vehicle supply constraints and a weakening New Zealand economy.
There were 550 new registrations of pure electric vehicles, 635 plug-in hybrid electric vehicles and 1773 petrol hybrid vehicles.
The top three selling models for July were the Toyota Hilux at 957 units registered, Toyota RAV4 with 690 units and Mitsubishi Outlander in third with 685.
Currently, the top three models for the year to date are the Toyota Hilux with 5739 units, the Mitsubishi Outlander at 5597 units and the Ford Ranger at 5475 units.
Medium-sized SUVs still remain on top with 23 per cent market share followed by compact SUVs with 21 per cent. Utes and four-wheel drives came in third with 14 per cent market share.
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