November tough for new car sellers
Another black month in a generally bleak year.
SENTIMENT that 2024 will be a rough year for new vehicle distributors seems reinforced by data for November delivering generally bleak outcomes.
New car registrations data sourced from NZTA for November has arrived from the industry news outlet Autotalk, its information share arriving ahead of the usual source, the Motor Industry Association, which represents almost all passenger sector and light commercial involvers.
The online magazine says 8934 new vehicle registrations for last month represents a sobering 22 percent drop on the same period of 2023, when 11,491 units were plated.
It cites the only brand to show an increase in volume was Toyota New Zealand. The market leader notched 3406 registrations, against 3019 in November of 2023, a 12 percent climb.
Much of that was fed by the RAV4, which has consistently been a rental and fleet favourite, though also buoyed by private buyers. It notched as the best-selling passenger vehicle of last month with 1877 registrations. The next strongest seller was another Toyota, the Corolla, on 419.
Mitsubishi Motors New Zealand ran in second place among brands last month, but had a tough time, with 757 registrations representing a 29 percent year-on-year drop, as it saw 1068 registrations in the previous period.
The next best performers, in order of placement, were Ford with 711 registrations, Suzuki (on 457), Mazda (426), Kia (338), Hyundai (334), Honda (292), MG (291) and Volkswagen (234).
New commercial vehicle registrations increased six percent to 3204 units in November 2024 from 3022 in the previous period, but Ford - market leader by virtue of its Ranger - was down 19 percent to 915 units for the month. Second-placed Toyota was up 15 percent, to 689 units. Mitsubishi took third with 258 units.
Ranger led the commercial sector with 814 registrations, followed by the Toyota Hilux with 551 and the Mitsubishi Triton with 258.