New Zealand vehicles sales hit in the 2018 the 5th all time record in a row with 169.786 sales, up1.8%. The market was sustained by a still growing economy and should keep the pace in the 2019. The leader Toyota gained 17.8% of share while Honda was the fastest brand, up 16%.
Economic Environment
New Zealand economic growth expanded at the slowest pace in nearly five years on a quarter-on-quarter basis in Q3 2018, dragged by weaker domestic demand and a downbeat external sector. Deteriorating fixed investment and government spending dampened growth as the Kaikoura earthquake repairs came to a conclusion, with construction activity consequently contracting in the third quarter.
Looking ahead, growth is expected to maintain its momentum this year, on the back of healthy household spending as consumers benefit from subdued price pressures and tight labor market conditions. Low interest rates and a trailing fiscal surplus are also seen supporting economic activity in the short-term.
Market Trend
New Zealand vehicles market in recent years have scored records in series. Total vehicles sales volume grew up from 100.000 in the 2012 to 166.000 in the 2017, with steam to further perform in the 2018.
According to data released by the M.I.A., the Motor Industry Association of New Zealand, the new vehicles demand in the 2018 has moderate with market trend stable from the previous record. Indeed, the year ended with the 5th consecutive annual gain, improving 1.8% from the previous year. The market closed with 169.787 units sold.
Competitive Arena
Brand-wise, in the 2018 ranking, Toyota consolidated the leadership with 30.282 sales (-0.7%) with market share at 17.8%.
In second place Ford with 17.291 ahead of Holden with 13.694 (-7.3%), Mazda with 11.782 (+1.5%), Mitsubishi with 11.679 (+6.7%), Nissan with 8.481 (+3.2%), Hyundai with 7.830 (-0.2%), Volkswagen with 7.631 (-1.8%), Suzuki with 7.273 (-2.8%) and in 10th place Kia with 6.976 (+4.1%).
Model-wise, the 2018 leader was the Ford Ranger with 9.904 sales (+5.1%) followed by the Toyota Hilux with 8.087 (-0.2%) and the Toyota Corolla with 7.303 (-6.3%).
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models
