New cars still selling fast, boosted by rental demand from a booming tourism industry. Commercial vehicle sales up +12.8% year-on-year

Slowdown?, what slowdown?

New passenger car sales in October were an all-time record.

And that was despite industry observers suggesting last month the peak had probably passed.

11,114 cars were sold in the month, besting the 10,795 sold in October 2016.

Year to date, sales of passenger and SUVs were up by 6.3% (5,321 units) and commercial vehicles by 18.0% (6,665 units) compared to 2016.

In October, 51.3% of passenger vehicle sales were SUV’s. That is similar to the 2016 level, but actually much lower than we have seen for most of 2017.

Toyota was the market leader for passenger and SUV registrations with 31% market share (3,410 units) followed by Holden with 9% (1,006 units) and Mazda with 8% market share (903 units). The top selling passenger and SUV models for the month were the Toyota Corolla (1772 units of which 1589 were rentals which gave Toyota an unusual boost in the month) followed by the Toyota RAV4 (479 units of which 304 were rentals) and the Kia Sportage (354 units).

The booming tourism market is adding greatly to the demand for new cars here. October is usually big for rental fleet sales, but just more so this year.

Commercial vehicle sales were high as well, but not records. However, the 4,416 new commercial vehicles sold in October was more than a +12% rise from the same month a year ago.

At this time we don’t have data for October used imports registered. This will come in a few days, but they have been running hot too, more than 12,500 per month for 16 straight months to September.

New vehicles sold

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Passenger vehicle sales Passanger vehicle sales – Annual Passenger vehicles yoy% Commercial vehicle sales Commercial vehicles – Annual Commercial vehicles yoy%Used car imports Used car imports – Annual
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Source: NZTA

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Source: NZTA

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Source: NZTA

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Source: NZTA

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Source: NZTA

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Source: NZTA

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Source: NZTA

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Source: NZTA