NZ Sales: Measured growth in February

NEW ZEALAND’S new vehicle registrations rose slightly across February, the sale of 10,193 units representing a year-on-year increase of 4.1 per cent.

The New Zealand Motor Industry Association (MIA) said that growth came from all major segments, led by gains in light- and heavy commercial vehicles, while light passenger (passenger car and SUV) registrations continued to represent the majority of the market.

Year-to-date registrations reached 21,970 units at the end of February, up 6.5 per cent on the same time last year. The MIA said light passenger and light commercial vehicles both recorded YTD growth, while heavy commercial volumes were marginally below the prior year period.

MIA chief executive Aimee Wiley attributed the market’s firmer overall footing to steady underlying demand in the market, noting signs of confidence from both household and business buyers.

“Both the monthly and year to date figures show moderate growth compared with 2025, with light passenger vehicles continuing to account for around seventy per cent of registrations,” she said.

“While heavy commercial volumes remain slightly below last year on a year-to-date basis, the February lift is encouraging. The industry continues to respond to stable but competitive trading conditions.”

Ms Wiley said broader economic forecasts point to gradual improvement in 2026, following a subdued period last year. Interest rates and business confidence indicators have shown signs of stabilisation, supporting purchasing activity across both household and business segments.

However, she cautioned that conditions remain measured, with vehicle demand continuing to reflect underlying replacement cycles and business investment decisions, rather than accelerated expansion.

Across February, the sale of hybrid vehicles continues to feature prominently within the light passenger segment, maintaining a significant share of YTD registrations.

Battery electric and plug-in hybrid vehicle sales remain “present” across both passenger and light commercial categories, while petrol and diesel vehicles continue to account for the majority of New Zealand’s new vehicle registrations.

BEV sales totalled 675 units in February with 707 PHEV unit sales. Hybrid vehicle sales tallied 2406 for the month, while internal combustion engined vehicles totalled 6406 units.

By manufacturer, we note Toyota in the lead for February with a total of 1515 unit sales and 15 market share points. Ford placed second with 1288 units (13 per cent) ahead of third place Mitsubishi with 905 units (nine per cent), fourth place Kia with 713 units (seven per cent), and fifth place Nissan with 584 units (six per cent).

Hyundai’s Tucson became New Zealand’s most popular light passenger model for the month of February with 418 registrations recorded, leading the Toyota RAV4 (369), Mitsubishi ASX (308), Ford Everest (275), and MG ZS (243).

On the light commercial vehicle front, the Ford Ranger took top spot on the podium with 761 unit sales, ahead of the Nissan Navara (411), Toyota HiLux (297), Toyota HiAce (260), and Mitsubishi Triton (259).

Top 10 sales by Make (February overall):

Top 10 sales by Model (February light passenger):

Top 10 sales by Model (February light commercial):

*All sales figures are supplied courtesy of the Motor Industry Association of New Zealand.