Registrations still down year-on-year, but distributor organisation believes market could be stabilising.

PASSENGER car registrations in July were 29 percent off the tally for the same month of 2023, and overall volume when involving light commercials including one-tonne utilities was also down, by 21 percent.

Yet the organisation representing new vehicle distributors reckons it could be worse.

In offering commenting to how the the new car sales scene looked last month, the Motor Industry Association said it could see a glimmer of positivity.

In supplied comment, while recognising the 9430 vehicle registrations tally last month is below the year-to-date monthly average of 10,315 and regardless that the low passenger take-up likely highlights “ broader economic challenges,” it also believes the market could be starting to stabilise after months of continuing gloom.

One pointer to support that ideal: That positive trends persist in commercial vehicle segments.

“Average monthly light commercial vehicle registrations remain stable at 3023 YTD, close to the 3084 monthly units recorded in 2023, indicating sustained demand,” it said in a statement.

Also, it says, heavy commercial vehicle registrations have grown, reaching an average monthly 643 YTD units, up from 613 average monthly units in 2023 and 553 in 2022.

The whole picture, says MIA chief executive Aimee Wiley, reflects the resilience of the New Zealand automotive industry.

Still, challenges clearly remain. July was another month in which internal combustion product did well, and electrics definitely did not. There wasn’t an electric car specialist in the top 20.

Toyota maintained its traditional market leadership, with 980 new car registrations, followed by Mitsubishi (755), Kia (733), Suzuki (480), Mazda (333), Hyundai (266), Honda (233), MG (223), Ford (210) and Volkswagen (210).

The top 10 nameplates were the Toyota RAV4 (394), Kia Seltos (342), Mitsubishi ASX (311), Suzuki Swift (300), Mitsubishi Outlander (256), Toyota Corolla (130), Kia Sportage (125), Mazda CX-5 (124), Ford Everest (120) and Toyota Highlander (118).