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New vehicle registrations in second best month ever

Tuesday 4th October 2016

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New vehicle registrations came close to breaking records in September, with 13,884 new vehicles on the road, the second highest month ever. 

Registrations were up 11.3 percent on a year earlier and it was the highest number for the September month since records began. The boom in new registrations is being put down to the increase in migration, strong economy, and record low interest rates. 

The current record for monthly vehicle registrations was set in July 1984, when Robert Muldoon called a snap election, with 13,983 vehicles being snapped up by buyers.

The market is up 7.6 percent to 107,265 in the first nine months of the year compared to the same period in 2015. 

"If registrations of new vehicles continue at this pace, then it is possible we could see more than 140,000 new vehicles registered in a year for the first time," Motor Industry Association chief executive David Crawford said.

In September 2016, there were 9,704 passenger and SUV registrations, and 4,180 commercial vehicle registrations. 

The Toyota Corolla was the top selling passenger model in September with a 5 percent market share, followed by the Hyundai Tucson with 4 percent share and the Kia Sportage on 3 percent. The Ford Ranger was the top selling commercial model with 18 percent share, followed by the Toyota Hilux with 13 percent share and the Holden Colorado at 10 percent.

BusinessDesk.co.nz

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