The recent trend of declining new vehicle registrations continued in June, recording the lowest sales for that month in
over a decade. It’s the fourth month in a row that registrations have declined.
At 9,423 registrations, June 2024 is 60% lower than June 2023 (23,560 units) – albeit that was the
highest month ever recorded due to pending changes to the Clean Car Discount – and 21.8% lower than June 2022 (3,151
units). Year-to-date, 2024 is 26.2% lower than 2023 (22,235 units) and 23.5% lower than 2022 (19,329 units).
New Vehicle Industry Key points
• The top three overall market leaders in June 2024 were Toyota, with a 20.8% market share
(1,964 units), followed by Ford, with 14.0% (1,319 units), and Mitsubishi, with 11.8% (1,116
units).
• June registrations breakdown: Light Passenger at 6,067, Light Commercial at 2,762 and Heavy Commercial at 594.
• Total industry by motive power for June: 548 Battery Electric (5.8% share), 227 Plug-In Hybrid (2.4% share), 2,115
Mild Hybrid (22.4% share) and 6,533 ICE vehicles (69.3% share).
• The overall top three segments in June: Pick-Up/Chassis Cab (25.3%), followed by SUV
Medium (21.7%) and SUV Compact (18.6%).Light Passenger Vehicles (including SUVs)
Registrations
Light passenger vehicles, at 6,067 units, are a whopping 64.9% lower than in June 2023 (11,232
units) – but as noted, last June was a record – and 36.6% lower than in June 2022 (3,496 units). Year to-date, light
passenger vehicles are down 34.2% (20,886 units) compared to the same period in
2023 and 28.7% (16,206 units) lower than in the same period in 2022.
Light passenger by buyer type: Top 3
1. Business 2,973 units and 49.0% share
2. Private Buyer 2,585 units and 42.6% share
3. Rental 299 units and 4.9% share
Top selling light passenger models: Top 3
1. Toyota RAV4, 556 units and 9.2% share
2. Mitsubishi Outlander, 255 units and 4.2% share
3. Mitsubishi ASX, 252 units and 4.2% share
Segmentation – what consumers are buying: Top 3
1. SUV medium 2,041 units (33.6% share of Light Passenger) 2. SUV compact 1,750 units (28.8% share of Light Passenger)
3. SUV Large 801 units (13.2% share of Light Passenger)
The small to medium segments comprised 78.4% of Light passenger.
Light Passenger Motive Power Insights
Top-selling models (by motive power)
Battery Electric Vehicles (BEVs):
The top five models in June were the Tesla Model 3 (67 units), Hyundai Kona (62 units), BYD Atto 3 (47 units), Hyundai
Ioniq 5 (41 units), and Tesla Model Y (40 units).
Plug in Hybrid Vehicle (PHEVs):
The top five models in June were the Mitsubishi Outlander and Eclipse Cross (both 44 units each), followed by the BYD
Sealion (21 units), Porsche Cayenne (13 units), and BMW X5 (10).
Hybrid Vehicle (HEVs):
The top five models in June were the Toyota RAV4 (556 units), followed by the Toyota Highlander (153 units), Suzuki
Swift (135 units), Hyundai Tucson (120 units), and Toyota Corolla (114 units).Light Commercial Vehicles
Registrations
Light commercial registrations of 2,762 are virtually half that of June 2023 (down 2,823 units) but 850 units higher
than June 2022 (1,912 units). Year-to-date, registrations are 8.5% lower (1,739 units) than in the same period in 2023.
Light commercial by buyer type: Top 3
1. Business 2,170 units and 78.6% share
2. Private 527 units and 19.1% share
3. Rental 65 units and 2.4% share
Top selling light commercial models: Top 3
1. Ford Ranger, 889 units and 32.2% share
2. Toyota Hilux, 591 units and 21.4% share
3. Mitsubishi Triton, 436 units and 15.8% share
Segmentation – what consumers are buying: Top 3
1. Pick-up/Chassis Cab 4x4 1,827 units (66.1% share of Light Commercial)
2. Pick-up/Chassis Cab 4x2 543 units (19.7% share of Light Commercial)
3. Vans 328 units (11.9% share of Light Commercial)
Motive Power
Light Commercial BEVs: 8 units in June, 131 units year-to-date.Heavy Commercial Vehicles
Registrations
The 594 heavy commercial registrations are 12.1% lower than in June 2023 (82 units) but 3.5% higher than in June 2022
(20 units). Year-to-date, registrations are 8% higher (290 units) than in the same period in 2023 and 18.8% higher (621
units) than in the same period in 2022.
Heavy commercial by buyer type: Top 3
1. Business 465 units and 78.3% share
2. Private 59 units and 9.9% share
3. Government 54 units and 9.1% share
Heavy commercial segment leaders: Top 3
1. Isuzu Trucks, 116 units and 19.5% share
2. Fuso 84 units and 14.1% share
3. Ford, 53 units and 8.9% share
Heavy commercial models retail share: Top 3
1. Isuzu Trucks N Series, 60 units and 10.1% share
2. Ford Transit, 53 units and 8.9% share
3. Mercedes-Benz Sprinter, 42 units and 7.1% share
Motive Power
Heavy Commercial BEVs: 29 units in June, 145 units year-to-date.