Car registrations

New car registrations rise, used still under pressure

1 Apr 2025

Matthew Allman

Our take on the latest Car registrations (Tue 1 Apr 2025)

181,866

Total car registrations in the year to March, down 6.9%pa

New car registrations up 8.8%pa from March 2024

Used car registrations down 20%pa from March 2024

The key numbers...

The annual car registration total eased further in the March quarter and has now fallen for eight consecutive months, to 181,866 – reaching an annual total last seen in late 2013. New car registrations in the March quarter were up 8.8% from the March 2024 quarter, but used car registrations were down 20% over the same period.
New car registrations rose by 10% in the March 2025 quarter from December 2024, marking the third consecutive quarterly rise (seasonally adjusted). Although this trend is positive, registrations are rising from a trough that formed in the first half of 2024 following the removal of the clean car discount (CCD) in 2023.
The rise in new car registrations in the March quarter was driven by new small registrations, rising 18% from a year ago and recording the strongest lift since mid-2023. New large vehicles rose from a year earlier for the third consecutive quarter, but 2.8%pa growth represents a softening from faster growth throughout the previous six months.
Used car registrations fell narrowly, down 0.5% in the March 2025 quarter from December 2024, falling for the fifth consecutive quarter (seasonally adjusted). Both small and large used vehicle registrations were lower than a year ago in the March 2025 quarter, down 22% and 18%pa respectively.

New car registrations rise, used fall again

Quarterly car registrations, seasonally adjusted

...and our reaction

Total quarterly car registrations rose for the first time since the December 2023 quarter, up 2.3% from the December 2024 quarter (seasonally adjusted). Pressure remains on used car registrations, which are yet to see a quarterly rise since the removal of the CCD.
Non plug-in hybrid electric vehicles made up 41% of total car registrations in the year to March 2025, and have maintained a market share of over 40% share since February 2024. Full battery electric vehicles (FBEV) are recovering slowly, with their market share rising to 4.5% from 4.0% in December 2024. FBEVs made up above 9.0% of registrations throughout 2023, largely due to incentives from the CCD. Petrol vehicles remain the most popular type at 47% of registrations.
Constrained household budgets over the next six months will likely see registrations remain at subdued levels. With more than two-thirds of mortgages set to refix over 2025, households will continue to feel greater budgetary relief from lower mortgage rates, which should flow through to more spending activity as the year progresses.
International trade policy might see suppliers affected by the 25% tariffs from the US on all foreign-made cars, which begins on 2 April, trying to offload vehicles at reduced prices to other markets, putting downward pressure on global vehicle prices. However, with US tariff policies changing dramatically from week to week, it is hard to be certain about whether any announced policies will stay in place, and if potential flow-on effects will therefore occur.

Latest updates

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Car registrations

New car registrations rise, used still under pressure

The key numbers...

New car registrations rise, used fall again

...and our reaction

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