New Vehicle Market Continues Its Steady

Motor Industry Association Media Release: New Vehicle Market Continues Its Steady Recovery

Market Overview

New vehicle registrations reached 13,615 units in November, a 12 percent lift on the same month last year and the fifth straight month of annual growth. The trajectory signals a market slowly rebuilding its footing despite persistent economic strain. What we are seeing is not momentum in the classic sense but a gentle stabilisation as some demand begins to return.

Motor Industry Association Chief Executive Aimee Wiley said the recent trend continues to reflect steady but fragile progress across the sector.

The past several months show a cautiously improving picture, yet the market remains delicate. Household budgets are still under pressure and business investment is patchy. The rise in registrations reflects steadying conditions rather than renewed expansion. It suggests the industry is beginning to move out of the trough but has not yet shifted into a sustained growth phase.”

Economic Context

Recent Infometrics indicators reinforce the mixed backdrop. Economic activity remains soft, with GDP down 0.8 percent in the year to June, consumer spending falling 1.7 percent, and employment down 1.5 percent, lifting unemployment to 5.0 percent. The Reserve Bank’s cut to 2.5 percent has eased some financial pressure, and strong primary sector returns continue to provide resilience, but the broader environment remains uneven. For the automotive sector, this means demand is improving but still sensitive to cost fluctuations and confidence trends.

Segment Performance

Passenger vehicles again led the market, with 10,247 registrations, up 14.5% on November 2024. Hybrid models remained dominant as buyers focus on fuel efficiency and running costs in a cautious spending environment.

The Toyota RAV4 was once again the top-selling model with 1,257 registrations, followed by the Mitsubishi ASX (558) and the Ford Everest (527).

Light commercial vehicles totalled 2,820 registrations, down slightly from 2,918 in October but 18.6% higher than November 2024. The Ford Ranger again led the segment with 1,030 sales, ahead of the Toyota Hilux (621) and Mitsubishi Triton (203).

Heavy commercial vehicles recorded 548 registrations, down significantly on November 2024 (822). In the light passenger low-emission segment, battery electric vehicles (BEVs) registrations of 641 was down compared to a year earlier (687). Conversely, plug-in hybrids (PHEVs) rose to 472 units, up from 327 in November 2024. Hybrid-electric vehicles (HEVs) showed a small amount of growth, with 4,201 registrations, up from 4,136 a year earlier.

Summary

The November result reflects a market that is slowly finding stability rather than accelerating into a new cycle. Financial conditions are easing and regional demand is holding firm, supporting a gradual lift in activity. For the industry, the key takeaway is that recovery is underway, but it remains vulnerable to shifts in costs, credit conditions and wider economic confidence.

Key Industry Insights

Total Industry Registrations: November 2025 A total of 13,615 new vehicles were registered in November 2025. This reflects: