NZ Sales: Stabilisation in sight

NEW ZEALAND’S new vehicle market continues to show signs of stabilisation, with March 2025 registrations climbing 2.6 per cent over those for the same time last year.

However, while headline volumes remain steady, the Motor Industry Association believes underlying sales trends point to a market in transition, with “clear shifts emerging between vehicle segments”.

March sales figures show that while light passenger vehicles (including SUVs) now account for the majority of the country’s registrations, supported somewhat by resilient consumer demand, the commercial sector remains under pressure.

Light commercial vehicle registrations have decreased 8.7 per cent when compared with March 2024, while heavy commercial vehicle registrations fell a significant 39.0 per cent.

First quarter sales trends reinforce the message, with year-to-date heavy commercial vehicle registrations down by a similar level, 38.4 per cent below that of the same time last year.

“This is a clear signal of shifting dynamics within the commercial sector,” said Motor Industry Association chief executive Aimee Wiley.

“Rather than expanding fleets, operators appear to be focusing on utilisation and efficiency, managing through a period of softer demand.

“Heavy vehicle registrations were likely supported by earlier forward orders, but the steep year-to-date decline suggests that underlying demand is now being tested as economic headwinds weigh more heavily on investment decisions.”

Alongside these volume trends, New Zealand’s vehicle fleet continues to evolve in terms of powertrain preferences.

Hybrid vehicles remain the strongest performers in the passenger market, now accounting for one in every three new registrations.

The MIA says consumers are engaging with lower-emission technologies, although the uptake of fully electric vehicles is progressing at “a more subdued pace”.

Indeed, a breakdown of sales by motive power type shows ICE vehicles leading with a 62.1 per cent of all new vehicle registrations in March, ahead of HEV on 28.6 per cent, BEV on 5.4 per cent, and PHEV on 3.9 per cent.

Variance in buyer type across the month of March show business sales leading private, government, and rental fleet sales respectively. Business sales accounted for 55.6 per cent of all registrations in March, ahead of 41.5 per cent for private sales, 2.0 per cent for government sales, and just 0.9 per cent for rental fleet sales.

By marque, we find Toyota on top of the March ladder with 2575 sales (or 22 market share points) ahead of Mitsubishi with 1311 sales (11 per cent), Ford with 1106 sales (9 per cent), Kia with 851 sales (7 per cent), and Nissan 672 sales (6 per cent).

Top-selling passenger and SUV sales include a majority of SUV models, the top five comprising the Toyota RAV4 with 705 unit sales (and 8 market share points) ahead of the Mitsubishi ASX with 364 units (4 per cent), Mitsubishi Outlander with 352 units (4 per cent), Kia Seltos with 295 units (3 per cent), and Toyota Corolla with 219 units (also with 3 per cent).

Light commercial vehicles sales for the month of March saw an all-ute top five, led by the Ford Ranger (with 709 unit sales and 20 market share points). The Ranger led second-place HiLux with 669 unit sales (19 per cent), Mitsubishi Triton with 488 unit sales (14 per cent), Nissan Navara with 383 units ales (11 per cent), and fifth-place BYD Shark 6 with 169 unit sales (5 per cent).

Top 10 sales by Make (March passenger, SUV and light commercial):

Top 10 sales by Model (March passenger and SUV):

Top 10 sales by Model (March light commercial):

*All figures are supplied courtesy of the Motor Industry Association of New Zealand.