Our take on the latest Car registrations (Mon 4 Oct 2021)
New car registrations grew 54%pa in September
Used car registrations fell 28%pa
Largest month for new car registrations
The key numbers...
- Total car registrations rebounded in September, growing 7.0%pa. Total registrations in the September quarter eased 0.4%.
- There were 11,891 new passenger car registrations in September, the most new car registrations in a single month on record.
- Despite being in Level 4 lockdown until September 21 and Level 3 for the rest of the month, Auckland registered 5,874 cars, about 30% of the nationwide total.
- There were 1,640 electric vehicle registrations in September, which was also the largest month on record.
- There were 1,204 rental car registrations, the largest monthly figure since COVID-19 struck. However, this figure was still considerably lower than the 2,726 registered in September 2019.
New car registrations
Annual running total, source:NZTA
...and our reaction
- A recent surge in new car imports and pent-up demand during lockdown have helped boost sales across the country in September.
- The Clean Car Discount and growth in rental registrations are also helping boost sales.
- Car sales appear to be far more resilient to the economic shocks of lockdown this time round, as households and businesses have a better idea what effects lockdown will have on their financial situation.
- The record for new car registrations is remarkable considering the circumstances, but the spread of COVID-19 into the Waikato Region might knock consumer confidence.
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