27 Jan
More Kiwi drivers took ownership of new vehicles in October than ever before.

New Zealand’s new car sales hit a record high

The amount of new vehicles hitting the roads can be dependent on a number of factors. There are the wider economic conditions, fluctuations in on-the-road costs, and even any discounts that each manufacturer could be offering. 

The number of new cars hitting the road in October totalled 12,684.

In New Zealand, while the depreciation of the Kiwi dollar has been a positive in some areas – for example, prices at the pumps have dropped, making it easier to unlock the most value from any fuel cards – currency fluctuations can occasionally have a negative effect on new vehicle prices, especially in the majority of those that come to these shores from overseas.

However, in line with Motor Industry Association (MIA) data for October, that simply hasn't been the case. In fact, the number of new cars hitting the road totalled 12,684 – a record for October and a five per cent increase over the same period last year.

"The depreciation in the New Zealand dollar hasn't filtered through into prices yet – there have been some good deals. Other economic indicators suggest it should be tapering off, but it's not. People still feel confident enough to be making these purchases," explained MIA chief executive David Crawford, as quoted by 3 News.

Toyota leads the charge

Having been one of the world's premier manufacturers for so long, it will come as little surprise that Toyota remains the most popular brand in the eyes of new car buyers. In fact, its Corolla was the single biggest selling vehicle, while the marque itself enjoyed a 26 per cent share of New Zealand's new vehicle market.

The old guard of Ford and Holden were relatively close behind their Japanese counterpart, with the pair each having a 10 per cent share of the new car market.

More Kiwis picked up the keys to new cars than ever before in October.More Kiwis picked up the keys to new cars than ever before in October.

Shifting commercial trends

In the commercial vehicle space, there was a slight dip in spending on new vehicles. However, this is predominantly due to seasonal conditions. As the nation winds down for Christmas, agricultural entities and tradies aren't necessarily looking to add to their fleets at the moment.

Consequently, the number of commercial cars, vans and trucks registered across October was a little over 3,000 – a two per cent decrease over the same month in 2014.

All in all, while the commercial vehicle space is regressing slightly, that isn't to suggest that there's no value in the market. With records being broken in other areas, it's clear that many Kiwis think now's a great time to get their hands on a new set of wheels.