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July New Vehicle Registrations Significantly Soften

The Motor Industry Association’s David Crawford says that 11,101 registrations of new vehicles for the month of July shows the market is significantly softer compared to July 2021. The weak market is bought on by raising costs of living, high fuel prices, continued vehicle supply constraints and a weakening New Zealand economy.

Registrations of 8,049 passenger cars and SUV’s were down 19.4% (1,935 units) on the same month last year. Registrations of 3,052 new commercial vehicles were down 39.8% (2,017 units) on July last year and are likely to remain subdued in coming months due to the effect of the clean car taxes.

Overall, registrations of new vehicles were down 26.3% (3,952 units) on July 2021. Year to date the market has now slipped below 2021, down 6.6% (6,547 units) compared to the first seven months of 2021.

Registrations of light commercial vehicles remain subdued following the impost of Clean Car Discount taxes from 1 April this year.

Key points

  • Overall, July 2022 registrations of 11,101 vehicles were down 26.3% (3,952 units) on the same month in 2021, and down 6.6% (6,547 units) on 2021 year to date.
  • There were 550 pure electric vehicles, 635 PHEV’s and 1,773 petrol hybrid vehicles sold for the month.
  • Registration of 8,049 passenger and SUVs for July 2022 were down 19.4% (1,935 units) on July 2021, while commercial vehicle registrations of 3,052 were down 39.8% (2,017 units) compared to July 2021.
  • The top three models for the month of July were the Toyota Hilux (957 units), followed by the Toyota RAV4 (690 units) with the Mitsubishi Outlander in third place (685 units).
  • Year to date the top three models are the Toyota Hilux (5,739 units), followed by the Mitsubishi Outlander (5,597 units) and the Ford Ranger (5,475 units).
  • Registrations of heavy vehicles remains steady with 572 units for the month.

Market leaders in July / 2022

Toyota retained the overall market leader with 26% market share (2,891 units), followed by Mitsubishi with 13% (1,411 units) and Ford in third spot with 7% market share (754 units).

Market share year to date, Toyota has regained the lead with 17% (15,792 units), followed by Mitsubishi 16% share (15,177 units) and then Ford with 8% (7,315 units).

BEVs, PHEVs and Hybrids

There were 544 light vehicle and 6 heavy vehicle full battery electric vehicles registered in July. The top selling models were the Peugeot 208 (92 units) followed by the Polestar 2 (80 units) and the Kia EV6 (40 units).

Registrations of plug-in hybrids were steady with 635 units registered for the month. The top selling models were the Mitsubishi Outlander (280 units) followed by the Mitsubishi Eclipse Cross (164 units) and then the Hyundai Ioniq (35 units).

There were 1,773 hybrids registered in the month of July, with the top selling models being the Toyota RAV4 (530 units) followed by the Toyota Highlander (227 units) and the Toyota Yaris (123 units).

SUV and passenger vehicle sales July / 2022

Toyota regained the market lead for passenger and SUV registrations with 22% market share (1,770 units) followed by Mitsubishi with 15% (1,169 units) and then Suzuki with 9% market share (719 units).

Mitsubishi retain the market share lead for passenger and SUV year to date with 16% share (10,194 units), followed by Toyota with 14% share (8,793 units) and then Kia with 11% share (6,812 units)

The top selling passenger and SUV models for the month were the Toyota RAV4 (690 units) closely followed by the Mitsubishi Outlander (685 units) and the Toyota Highlander (335 units).

Commercial vehicle sales July / 2022

In a continuing subdued market for light commercial vehicles, Toyota retained the commercial vehicle sector lead with 37% market share (1,121 units) followed by Ford with 19% (595 units) and Mitsubishi in third with 8% market share (242 units).

The Toyota Hilux again took top spot for the month of July as the bestselling commercial model with 31% share (957 units) followed by the Ford Ranger with 19% share (580 units) and the Mitsubishi Triton in third place with 6% market share (179 units).

Market share year to date, the Toyota Hilux has regained the lead (20% share and 5,739 units) leads followed by the Ford Ranger (19% share and 5,475 units) and then the Mitsubishi Triton (16% share and 4,640 units).

Segmentation

The tops spots were the SUV medium segment with 23% share followed by SUV compact vehicles also with 21% then the Pick Up/Chassis 4x4 segment with 14% market share.

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