The Motor Industry Association (MIA) has announced that new vehicle registrations in October have seen a 5.1 per cent increase compared with the same month last year.
There were 14,736 new cars and trucks registered in October 2022, which means the market is up 0.3 per cent year-to-date compared with the first ten months of 2021.
Passenger cars and SUV numbers were up 16.5 per cent on October last year with 10,771 units registered. This puts the passenger car market 3.6 per cent ahead of 2021’s year-to-date figure.
On the other hand, commercial vehicles saw a 16.9 per cent decrease compared with October last year with 3965 vehicles registered.
What were the top three models registered in October 2022?
Who were the market leaders for October 2022?
Toyota retained its dominant foothold in New Zealand with a 20 per cent market share (2969 units) in October 2022, while Mitsubishi also kept second position at 14 per cent (2019 units). In third, Ford has pipped last month’s placeholder, Tesla, with 13 per cent market share (1972 units).
How popular were electrified vehicles in October 2022?
Approximately 1125 light and 25 heavy fully electric vehicles were registered in October.
Plug-in hybrid (PHEV) registrations were also strong in October at 919 units. The best selling PHEV models include the Mitsubishi Eclipse Cross (409 units), Mitsubishi Outlander (409 units), and the MG HS (83 units).
SUVs remain the dominant segment
Overall market share for new vehicle registrations in October saw the SUV medium segment come out on top yet again at 25 per cent while compact SUVs followed closely behind with 23 per cent. Utes rounded out the top three with 15 per cent market share.