New Vehicle Registrations Show Mixed Trends In February Amid Market Adjustments

New Zealand’s new vehicle registrations in February 2025 totaled 9,809 units, reflecting a 1.5% increase compared to February 2024 and a 2.8% increase from February 2023. This modest growth indicates market stabilisation, though sector-specific trends reveal ongoing shifts in consumer and business purchasing behaviours.

Light passenger vehicle registrations surged, driven by sustained demand for SUVs and hybrid models. Hybrid vehicle uptake in February was slightly below the 2024 full-year average at 33.4% (down from 35.9%), and electric vehicle (EV) registrations remained sluggish at 7.0% of the total, compared to 7.3% in 2024. Conversely, light and heavy commercial vehicle registrations declined sharply, influenced by broader economic pressures and cautious business sentiment regarding fleet renewals.

Aimee Wiley, Chief Executive of the Motor Industry Association, commented:

“The February 2025 vehicle registration figures indicate a shifting market landscape. While total industry registrations have increased slightly, the most notable trend is the widening gap between passenger vehicle growth and commercial vehicle decline. The significant drop in commercial vehicle sales signals an ongoing contraction in demand, influenced by economic conditions, infrastructure investment cycles, and broader business sentiment. Tighter business spending and a cautious approach to capital investment translate into delayed fleet renewals and lower commercial vehicle uptake.”

Wiley emphasised that while consumer demand for SUVs and hybrid vehicles continues to grow, the pace of electric vehicle (EV) adoption remains sluggish, posing a challenge in meeting stricter CO targets.

“Successfully navigating this transition is essential to maintaining vehicle affordability and supporting a well-balanced, sustainable market. While hybrid vehicle adoption continues to grow, electric vehicle (EV) uptake remains sluggish. The challenge for the industry is aligning supply with regulatory requirements and actual consumer demand, ensuring that a range of vehicles remain accessible, practical, and suited to the evolving needs of Kiwi buyers." Wiley added.

Key Industry Insights  

Industry Registrations  

In February 2025, 9,809 new vehicles were registered, marking a 1.5% increase (146 units) compared  to February 2024 and a 2.8% increase (268 units) compared to February 2023.  

Light Passenger Insights (including SUVs)  

Light Passenger Registrations  

7,013 units registered, a 17.8% increase from February 2024 and a 12.0% increase from February  2023.  

Light Commercial Vehicle Insights  

Registrations  

2,396 Light Commercial registrations represent a 21.5% decline compared to February 2024 and a  10.7% decline compared to February 2023.  

Heavy Commercial Vehicle Insights  

Registrations 

400 heavy vehicle registrations reflect a sharp decline of 39.4% (260 units) compared to February  2024 and a 33.2% (199 units) decline compared to February 2023.  

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