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New car demand continues to break records as sales of SUVs now dominate, and growing construction sector drives light commercials. Tourism demand helps too

New car demand continues to break records as sales of SUVs now dominate, and growing construction sector drives light commercials. Tourism demand helps too

The number of new vehicles sold in the past 12 months to August was an all-time record.

More than +98,000 new cars and more than +42,000 commercial vehicles were added to our roads in that 12 months, both records.

And that does not count the +144,000 used imports in the same period (not a record, but the highest in over ten years).

Of new vehicles sold in August, SUVs now represent 38% of registrations followed by passenger cars with 32% and the light commercial vehicles with a 25% share.

Toyota remains the most popular brand for both cars and SUVs, but the most popular individual vehicle is the Ford Ranger, a reflection of the booming construction industry.

The Ford Ranger is followed by the Toyota Corolla, the Toyota Hilux, the Holden Colorado and the Toyota RAV4.

Toyota has a 20% overall new vehicle market share, followed by Holden's 10%, Ford's 10% and Mazda's 8% market share.

Sales into the rental car market also remain strong, accounting for about 5% of all sales of new cars.

This data is from NZTA's new vehicle registration records. The Used Import data will be available early next week.

New vehicles sold

Select chart tabs

Source: NZTA
Source: NZTA
Source: NZTA
Source: NZTA
Source: NZTA
Source: NZTA
Source: NZTA
Source: NZTA

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9 Comments

My father sold up in Auckland earlier this year and plans to spend the differential in house price to travel. Across the road another ex Auckland couple have bought a brand new SUV. I wonder how much of the vehicle demand is coming from this quarter. If so it will collapse when the asset bubble collapses.

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Sounds very much like 2006 USA. Let the good times roll.

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Not just 2006 USA - It sound like pretty much every liquidity crisis we have seen.

Don't worry though, "it's a sign that the economy is going really well"

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Reminds me of Greece, let's hope we don't end up in the same boat.

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As I mentioned on another thread,friend has refinanced and is now driving a new Ford Ranger.Looks great at sports events,doesn't look too good in supermarket carparks (parking issue) and his ungrateful kids and snooty wife have remained the same.
Some things never change inspite of the vehicle you drive and the money you owe.

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Envious comments above ?

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Freehold home,low mileage 10 year old car,money in the bank,shares on the nzx,shares in a forestry block ll this despite not having worked for the last 2 years.
Envious ,I think not.

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Envious of someone getting into debt to buy a car? lol. Not all of us are vain enough to buy shit we cannot afford just to impress people

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So much for cycling, green technologies and new urbanism. Remember when people believed in peak oil they said "the oil age won't end because we run out of oil", they didn't say "the oil age won't end because we won't run out of oil ".
http://blogs.ei.columbia.edu/2012/01/09/evolutionary-psychology-of-clim…

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