The Ford Ranger Wildtrak, which was a big hit with buyers of commercial vehicles through October.

All eyes are on the battle between Ford's Ranger and Toyota's Hilux for top selling commercial model for 2014 with the release of new vehicle sales figure for October.

The Motor Industry Association has launched sales figures to date with confirmation that 2014 will be one of the strongest years for new car sales since the organisation began collecting records.

MIA's CEO, David Crawford, said the tally was 106,582 new vehicle registrations, making last month the "strongest October since the MIA started collecting records in 1975".

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"Not only are distributors of new vehicles closing in fast on the total new vehicles sales of 113,297 units for all of 2013, they are also on track to exceed the highest ever annual total for new registrations, which were 123,247 units in 1984."

In the year to date, registrations of new commercial vehicles are 5286 units (20.7 per cent) above this time last year and registrations of passenger vehicles year to date are 7166 units (10.4 per cent above this time in 2013.

The Ranger retained its position as the monthly top selling commercial model for October with 20 per cent market share (627 units).

The Hilux was the second best seller with 17 per cent market share (514 units) with the Holden Colorado at 8 per cent (235 units).

Toyota will monitor the segment as it aims to hold on to its title of top selling ute for 32 years straight.

The Ranger has stretched its lead as the top-selling commercial model with 16 per cent market share (5061 units) followed by the Hilux at 4778 units), a lead of 283 units.

The sale of sports utility vehicles continues to be the strongest-selling segment with 26 per cent of all vehicles sales in October, followed by small passenger cars at 23 per cent and pick-ups with 18 per cent.

"Healthy economic confidence combined with competitive pricing is fuelling strong demand for new vehicles," said Crawford.

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"The long run price of new vehicles in real terms continues to improve. Over the last 20 years the CPI has increased by 57 per cent while the real price of vehicles has decreased by 22.5 per cent, a difference of nearly 78 per cent compared to 1994."

Passenger vehicle registrations of 8910 units in October, were up 948 units on October 2013.

Toyota was the overall market leader for the month of October with 26 per cent market share with Ford second on 11 per cent and Holden third with 10 per cent.

The Toyota Corolla was the top selling new vehicle model in October with 1257 new registrations, thanks in part to the rental market.

Toyota remains the passenger car market leader for the month of October with 27 per cent share (2395 units), with Holden second on 11 per cent (966 units) and Hyundai third with 8 per cent (673 units).