New Zealand October 2023: Rentals push Toyota up to highest share in 4 years, MG 4 up to #7
The Toyota Corolla Cross is up to a record 5th place this month.
New vehicle sales in New Zealand are weak again in October with a -11.9% slump to 12,944 units. This is the result of uncertainty about the Clean Car Discount and shipping congestion. The year-to-date volume is now down -9.2% to 124,762. Passenger Cars buck the negative trend at +4.7% to 2,493 sales, SUVs drop -9.3% to 7,539 and Light Commercials fare the worst at -32.3% to just 2,188 sales. Year-to-date, Passenger Cars recede -15.6% to 19,835, SUVs edge down -3.3% to 70,486 and Light Commercials fall -19.4% to 27,769.
In the brands ranking, Toyota (+19.3%) goes completely against the market with a splendid year-on-year gain leading the brand to an outstanding 27.4% share, although sales to rental companies play a role in this performance as we’ll see below. This is Toyota’s highest share since December 2019 when it held 30.5% of the NZ market. For its part Ford (-29.3%) almost triples the market fall but stays in 2nd place with 10.8% share. Kia (+12.3%) also defies the surrounding gloom and gains five spots on September to round out the podium. Below Mitsubishi (-46.2%) in complete freefall, MG (+18.9%) delivers a mighty score and repeats at a record 5th place. Nissan (+37%) and BYD (+75.1%) also impress in the remainder of the Top 10.
Over in the models lane, the Toyota RAV4 (+47.9%) soars to pole position with 8.5% share vs. 5.5% year-to-date. Note sales to rental companies account for a whopping 68% of the RAV4’s volume this month. The Ford Ranger (-46.7%) follows and holds onto its YTD top spot while the Toyota Hilux (+6.4%) snaps a year-on-year lift. The Mitsubishi Outlander (-48.6%) almost halves its year-ago volume but at #4 overall it beats its YTD ranking (#5). First Top 10 finish for the Toyota Corolla Cross at #5, 46% going to rentals. The Yaris Cross (+1.7%) makes it four Toyotas in the Top 6 with a rental sales ratio of 72%. Finally the MG 4 progresses further, up two spots on last month to #7.
Previous month: New Zealand September 2023: Tesla Model Y #1, MG 4 in Top 10
One year ago: New Zealand October 2022: Ford Ranger takes control of market back in positive (+5.3%)
Full October 2023 Top 66 All brands and Top 25 models below.
