Commercial registrations and activity
Commercial registrations were stable in April
10 May 2023
Our take on the latest Commercial registrations and activity (Wed 10 May 2023)
New commercial registrations up 0.3% in April (seasonally adjusted)
New light commercial registrations up 1.2% from March (seasonally adjusted)
Road user charge kilometres purchased down 38%pa in April
The key numbers...
- There were 2,998 new commercial vehicles registered in April, a 0.3% increase from March after adjusting for seasonal effects.
- Registrations of new light commercials totalled 2,593 in April, a 1.2% increase from March after accounting for seasonal factors. However, overall new commercial registrations growth was limited by softness at the heavy end of the market, with new medium and very heavy commercial registrations falling 1.6% and 12% in April respectively (both figures seasonally adjusted).
- Annual used commercial registrations fell to 4,805 in March, the lowest level since August 2013. Annual used commercials lifted slightly in April to 4,912, but registrations were still 41% lower than the average over the last decade. Annual used commercial registrations have been falling since 2018, but the decline has accelerated since the introduction of the Clean Car Discount scheme in April 2022.
- Just over 1m road user charge kilometres were purchased in April, a 38% fall compared to April 2022, with purchases for light and heavy vehicles declining 41% and 23%pa respectively.
New commercial registrations steady in April
Monthly new commercial registrations, seasonally adjusted
...and our reaction
- New commercial registrations were steady in April, with strength in the light segment of the market largely offset by weakness at the heavy end.
- Low business confidence is reducing the willingness to invest in commercial vehicles, with businesses cautious to not be overcommitted entering a recession. This trend is especially true in the construction industry, where the outlook for construction activity is much weaker than has been the case for the last 2-3 years.
- Changes were made to the Clean Car Discount at the start of May, which have the effect of narrowing the range of vehicles that attract a rebate – non-plug-in hybrids are unlikely to attract a rebate under the new policy settings. “Clean” light commercial options in New Zealand remain limited, but the narrowing of the Discount scheme means many of the newly introduced hybrid ute models won’t attract a rebate, limiting the outlook for light commercial registrations more than we expected under the previous policy settings.
- The reintroduction of full road user charges in June is likely to result in large pre-purchasing, as has been the case when it had previously been signalled that the full charges would be reintroduced.
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 quarter
19%pa Medium commercial registration fall in the June 2026 quarter10%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