The risk of fire in parking buildings is dependant on the probability of a fire occurring and the severity of the fire. This paper reviews the research data available on vehicle fires and suggests the severity of such a fire for a risk analysis. The paper then examines the historical data for vehicle fires in New Zealand parking buildings from 1995 to 2003 to determine the probability of the occurrence of such fires and the likelihood of multiple vehicle involvement. It is found that annual vehicle fire frequencies in parking buildings are generally lower than those in buildings of other occupancies but increases with the annual usage ratio.