Wellington, Nov 7 (IANS) The New Zealand Labour Caucus confirmed on Tuesday that outgoing Prime Minister Chris Hipkins will remain the party's leader, and Carmel Sepuloni would take over as deputy leader following the massive defeat in the general elections last month.

New Zealand's National Party garnered a landslide victory in the October 14 general elections, prompting the Labour Party to step down after six years in office, reports Xinhua news agency.

Hipkins said Labour would remain strong in opposition next term.

"It is an honor to lead the Labour Party and stand up for progress. We will be taking time to regroup, plan and prepare for the next parliamentary term in opposition," Hipkins said after Tuesday's Labour caucus meeting.

The endorsement of the leader is required under the Labour constitution within three months of a general election.

The October polls witnessed the worst defeat of a sitting government in New Zealand since the introduction of the mixed-member proportional (MMP) voting system in 1996.

From having 65 seats in the first-ever majority government under MMP, Labour could win only 34 marking its worst performance since 2014.