Commercial registrations and activity
New commercial registrations down 9.4%pa over 2022
11 Jan 2023
Our take on the latest Commercial registrations and activity (Wed 11 Jan 2023)
New commercial registrations fell 26%pa in December 2022
New light commercial registrations up 1.6% in December
Medium and very heavy registrations fell heavily in December (seasonally adjusted)
The key numbers...
- There were 3,125 new commercial registrations in December 2022, a 26%pa fall from a year ago. Seasonally adjusted figures confirm the weaker December tone, with a 1.3% fall from November.
- Annual registrations across 2022 totalled just over 46,000 new commercial registrations – a 9.4%pa decline. The decline across 2022 was due to fewer new light commercial registrations, which fell 12%pa over the period. Heavier vehicle registrations performed better, with very heavy registrations up nearly 16%pa and medium registrations up 13%pa, although growth for both classes is now slowing sharply.
- Light commercial vehicle registration growth was more limited in December, with a 1.6% boost (seasonally adjusted) after a strong November result.
- Medium and very heavy registrations fell heavily in December, down 23% and 16% (both seasonally adjusted) from November, to end the year on a disappointing note.
- Road user charges kilometres purchased rose 6.8%pa in December, driven by growth in both light (up 7.5%pa) and medium (up 8.3%pa) vehicle RUC purchases, even as very heavy purchases fell 1.4%pa.
Recovering, but holding lower
New light commercial registrations, seasonally adjusted
...and our reaction
- After November’s strong results, December figures signalled a lacklustre end to 2022, with headwinds of high inflation, higher interest rates, and a looming recession weighing on purchase decisions.
- The Clear Car Discount, along with lower house prices and higher building costs, continues to keep light commercial vehicle registrations subdued, with a fall in construction-related vehicles being registered in the last six months.
- Very heavy commercial registrations remain at normal-to-elevated levels in general, despite the poor result in the December 2022 month. Supply chain disruptions appear to be supporting larger road transport requirements, and elevated infrastructure investment has seen heavier construction vehicle numbers rise.
- However, with consumer confidence now at its lowest level on record, and a recession brewing as the Reserve Bank ratchets interest rates higher to curb demand, the outlook for heavier commercial vehicle registrations is becoming less upbeat.
Latest updates
Premium
Commercial registrations and activity
Commercial registrations pull back following fuel price uncertainty
Mon 13 Jul 2026
Quarterly
1.2%pa Light commercial registrations fall in the June 2026 quarter19%pa Medium commercial registration fall in the June 2026 quarter
10%pa Very heavy comm. registrations rise in the June 2026 quarterPremium
Commercial registrations and activity
High diesel costs support lift in EV light commercials
Mon 13 Apr 2026
Quarterly
48%pa Light commercial registrations jump in the March 2026 month-17%pa Medium commercial registration fall in the March 2026 quarter
-4.2%pa Very heavy comm. registrations fall in the March 2026 quarterCommercial registrations and activity
Medium and very heavy commercial registrations still falling
Tue 13 Jan 2026
Quarterly
Quarterly very heavy registrations down 26%pa in Dec 2025Quarterly medium registrations down 18%pa in Dec 2025Quarterly light commercial registrations up 9.5%pa in Dec 2025Commercial registrations and activity
Light vehicle demand leaves heavy commercials behind
Fri 10 Oct 2025
Quarterly
Very heavy registrations down 38%pa in Sep 2025 quarterMedium registrations down 14%pa in Sep 2025 quarterLight commercial registrations up 25%pa in Sep 2025 quarter