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Pricing Insights – EV and PHEV

Over the past few months, the New Zealand used vehicle market has begun to show a shift driven by 
rising fuel prices. Following the escalation in oil market disruption linked to the Iran conflict, fuel 
costs have moved sharply. As we discussed in our First quarter update, this has accelerated 
changes in consumer demand, with buyers thinking about making the move to electric vehicles 
taking the plunge in a frantic buy up during March. Our latest pricing review has given some insight 
into how these macro conditions are translating into real market outcomes — particularly when 
comparing battery electric vehicles (BEVs) and plug-in hybrid vehicles (PHEVs) against the broader 
used vehicle market.

RedBook Monthly Insights May 2026

Summary of NZ vehicle market registrations and market movements