NZ Passenger Car Sales : Q1 2024

Registrations in 2024 for new cars were down 65% in June and also down 34% YTD. This is due at least in part to an economic slowdown. It may also reflect the reality that constant price increases have now pushed new cars out of reach of many who would have otherwise bought one. 

Total sales thus far are 40,000 units. Added to that were 52,000 used cars, almost exclusively sourced from Japan. They were down 9% YTD as best I could judge but more telling down 53% in June. So faring better than new, for now at least. A useful alternative to overpriced new cars. 

What a difference a year can make, especially when government policy changes. Out went rebates and fees favouring or punishing purchases based on emissions and that caused a dramatic shift in models purchased. From April of this year, electric and hybrid cars which previously did not contribute to roading costs will be paying a road user charge. 

So things have been stirred up. The data below is for passenger cars only so light commercials and pickup trucks are not included. The Diff column below shows market share change, Q2 of 2024 versus a full 2023. What does an overview of the data show us? 

For brands strongly favouring electric models, MG (-39%), Tesla (-65%), BYD (-77%) and Polestar (-76%) all suffering market share collapse in a market already on a downward slide. It shows how much subsidies prop up low emissions cars. I didn't call them environmentally friendly as I wonder about that.  

Premium marques are going better than mainstream brands which is normal when a market contracts. Chinese brands are still arriving, the Tank coming under GWM but I can't ascertain how many. Omoda has been going three months and Jaecoo one. 

It's still early days and as the year progresses, we will see if what has happened so far will continue to the same degree. And in case you were wondering what the three 'Other' are below, it was two Morgans and an Xpeng. 

Best selling passenger car models are: Toyota RAV4 (4,203) which is way out in front, Mitsubishi Outlander (1,688), Mitsubishi ASX (1,680), Suzuki Swift (1,393), Kia Seltos (1,356) and the Ford Everest (1,080).

The Ford Ranger is classed a commercial vehicle in NZ so isn't included below but it is truly the best selling model with 6,224 units sold so far, ahead of the Toyota Hilux (3,770) and Mitsubishi Triton (2,729).

Data source: MIA.