Toyota continued to dominate last month's registrations with an 18 percent market share. Photo: 123rf / Katarzyna Bialasiewicz Photographee.eu
The Motor Industry Association (MIA) says sales of new vehicles took a dive last month, amid a national state of emergency triggered by Cyclone Gabrielle.
New vehicles registrations were down 24 percent, which was the lowest month of February since 2014, with passenger vehicles and SUVs down 18 percent and commercial vehicles down 32 percent on the year earlier.
MIA chief executive David Crawford said registrations of new battery electric vehicles were softer than the last quarter of 2022. However, registrations of non-plugin hybrids remained strong.
"The recent weather events on the back of softening economy were a double whammy for the new vehicle sector in the month of February," he said.
"While we expect demand for new vehicles in coming months to increase to replace those written off by recent weather events, high inflation combined with logistical delays due to road infrastructure creates a degree of uncertainty in the market. "
Toyota continued to dominate last month's registrations with an 18 percent market share, followed by Ford at 12 percent and Suzuki at 8 percent.
Toyota also led sales of commercial vehicles with a 29 percent share of the market, followed by Ford at 28 percent and Mitsubishi at 7 percent.
The top commercial models for the month were the Ford Ranger, closely followed by the Toyota Hilux and Mitsubishi Triton.
Small-to-medium vehicles made up 58 percent of the consumer market, with SUV compact vehicles taking up a19 percent share, followed by SUV medium vehicles at 18 percent and pick-up trucks and 4x4 vehicles, also at 18 percent.