In a good way, it’s becoming very predictable each time we review the new vehicle registrations for the New Zealand market. If we take a quick step back into the results in September 2016 we saw the highest number of sales in that month on record. October has gone one better and set the highest number for the most vehicles sold in one month with 14,709 new registrations with the previous record set back in July, 1984.

John Manley, President of the Motor Industry Association says, ““Registrations of 14,709 new vehicles for the month of October smashed through all previous monthly records. Not only is it the highest October registrations of any October, it is also the highest ever of any month on record, shattering the previous highest month way back in July 1984 where 13,983 units were registered. It is also the first time that more than 14,000 new vehicles were registered in a month.”

Registrations of new vehicles were up 16% on October 2015 and are 9,605 units (8.6%) ahead year to date compared with this time in 2015. There were 10,795 passenger and SUV vehicle registrations and 3,914 commercial vehicle registrations during the month of October.

“New vehicle sales are a barometer of businesses and consumer’s confidence in the economy. The record sales for the month of October indicates that there is a strong level of confidence in the performance of the New Zealand economy.” said Mr Manley

New Zealand consumers chose Toyota as the overall market leader for the month of October with 22% market share (3,287 units), Holden finished second with 13% (1,866 units) and Ford third with 11% (1,642 units).

The passenger segments account for 38% of sales for the month of October, followed by SUV at 35% and light commercial segments having a 26% share.

When we break the passenger car and SUV market away from the commercial segment it’s once again Toyota making the headlines. As the leader for the month of October in the passenger car and SUV segment with 23% (2,468 units), Holden is doing its best to catch the leader managing 14% (1,490 units) and Mazda coming in third with 8% (912 units). There’s no surprises that Ford retained the commercial vehicle market 21% share (839 units) followed by Toyota also with 21% (819 units) and Holden third with 10% (376 units).

The top selling model for October overall was the Toyota Corolla with 20% market share (1,210), closely followed by the Toyota Yaris with 3% (362 units) and the Holden Commodore also with 3% (356 units).

When we look at the commercial sales numbers, the Ford Ranger leaders the way with 20% market share (768 units) with the Toyota Hilux the second best with 13% market share with 512 units and the Holden Colorado at 9% (345 units). The Ford Ranger has been the most consistent performer year to date with an overall 19% market share (7,173 units) followed by the Toyota Hilux with 14% market share (5,299 units).

It’s been another great month for the New Zealand new vehicle market and we look forward to a new record being set in this calendar year.