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April New Vehicle Registrations Slow In Line With Start Of Financial Year

New motor vehicle sales declined further in April, but in line with the usual trend of a softer month for what is the start of the financial year for many, according to the Motor Industry Association’s Mark Stockdale.

At 9,238 registrations, April 2024 is 9.23% lower than April 2023 (939 units) and 5.1% lower than April 2022 (9,734 units). On a year-to-date basis, 2024 is 10.4% lower than 2023 (5,030 units), 23.9% lower than 2022 (13,552 units) and 27.4% lower than 2021 (11,846 units).

New Vehicle Industry Key points

  • Top three overall market leaders in April 2024 are: Toyota with 25.8% market share (2,382 units), followed by Ford with 13.7% (1,266 units) and Mitsubishi with 10.3% (948 units).
  • April registrations breakdown: Light Passenger 6,120, Light Commercial 2,521 and Heavy Commercial at 597.
  • Total Industry by motive power for the month of April: 276 Battery Electric (3.0% share), 183 Plug-In Hybrid (2.0% share), 2,380 Mild Hybrid (25.8% share) and 6,399 ICE vehicles (69.3% share).
  • The overall top three segments in April were SUV Medium (26.5%), followed by Pick Up/Chassis Cab (22.6%) and SUV Compact (19.6%).

Light Passenger Vehicles (including SUVs)

Registrations

Light passenger vehicles at 6,120 is 13.3% lower than April 2023 (940 units) and 28.1% lower than April 2022 (2,394 units). On a year-to-date basis, light passenger vehicles are down 18.9% (6,457 units) compared to the same period in 2023 and 23.4% (8,504 units) lower than the same period in 2022.

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Light passenger segment leaders: Top 3

  1. Toyota 1,664 units and 27.2% segment share
  2. Kia 595 units and 9.7% segment share
  3. Mitsubishi 542 units and 8.9% segment share

Top selling light passenger models: Top 3

  1. Toyota RAV4, 1,012 units and 16.5% segment share
  2. Suzuki Swift, 257 units and 4.2% segment share
  3. Mitsubishi Outlander, 245 units and 4.0% segment share

Segmentation – what consumers are buying: Top 3

  1. SUV medium 2,449 units (40.0% share of Light Passenger)
  2. SUV compact 1,815 units (29.7% share of Light Passenger)
  3. SUV Large 571 units (9.3% share of Light Passenger)

The small to medium segments comprised 87% of Light passenger.

Light Passenger Motive Power Insights

Top selling models (by motive power)

Battery Electric Vehicles (BEVs):
The top five models in April: Tesla Model Y (48 units), followed by Tesla Model 3 (19 units), BYD Seal (16 units), Volkswagen ID.4 (15 units) and Volvo EX30 (15 units).
Plug in Hybrid Vehicle (PHEVs):
The top five models in April: Mitsubishi Outlander (38 units) followed by Mitsubishi Eclipse Cross (17 units), Volkswagen Touareg (11), Mini Countryman (11 units) and Lexus NX (10 units).
Mild Hybrid Vehicle (HEVs):
The top five models in April: Toyota RAV4 (1012 units), followed by Toyota Yaris Cross (152 units), Toyota Corolla Cross (126 units), Toyota Yaris (107 units) and Toyota Corolla (105 units).

Light Commercial Vehicles

Registrations

Commercial registrations of 3,118 are just 1 unit more than April 2023 and 155.6% higher than April 2022 (1,898 units). On a year-to-date basis registrations are 10.2% higher (1,427 units) compared to the same period in 2023 and 24.7% (5,048 units) lower than the same period in 2022.

Segment leaders

Ford retained the market lead with 35.9% market share (904 units) followed by Toyota with 28.5% (718 units) and Mitsubishi third with 16.1% market share (405 units).

Top selling models

The top five models for the month of April were the Ford Ranger (837 units), followed by Toyota HiLux (513 units), Mitsubishi Triton (405 units), Nissan Navara (174 units) and Toyota HiAce (162 units).

Motive Power

Light Commercial BEVs: 6 units in April, 65 units year-to-date.

Heavy Commercial Vehicles

Registrations

Heavy commercial registrations of 597 are 21.3% lower than April 2023 (105 units) and 23.9% lower than April 2022 (115 units).

On a year-to-date basis registrations are 13.7% higher (321 units) compared to the same period in 2023 and 24.6% higher (526 units) than the same period in 2022.

Motive Power

Heavy Commercial BEVs: 8 units in April, 90 units year-to-date.

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