Another record year for new vehicle registrations

2 MinutesBy NZ Trucking magazineJanuary 9, 2019

Total new vehicle registrations for the 2018 year were up 1% (1648 units) on the 2017 figures, and commercial vehicles were up by 4.0% (2,049 units) compared with 2017.

“The December 2018 figures are in, and despite a softening market with ups and down during the year, 2018 is the fifth year in a row of record new vehicle registrations. While the month of December was down 3.6% (420 units) on December 2017, it still took the 2018 calendar year to an all-time new record, with a total of 161,519 registrations on corrected figures,” says David Crawford, chief executive officer of the Motor Industry Association.

The total registrations of passenger and SUVs for 2018 were slightly down by 0.4% (403 units) on 2017 volumes, however commercial vehicles were up by 4.0% (2,049 units) compared with 2017.

The top two segments for the year were SUV medium vehicles with 17% share (27,162 units) followed by the pick up/chassis cab 4×4 segment with 15% (23,870 units). SUV compact and SUV large round out the top four spots with 13% and 12% each of the market, with the small vehicle segment filling fifth place with 10% of the market.

Crawford said given current global economic factors, distributor expectations for 2019 indicate a softening of the market, and further steady growth in the new vehicle sector above 2018 was not expected.