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A video posted on YouTube showed two English tourists yelling in delight as they reached 161km/h on the Desert Road before they were stopped by a police car.
The pair seemed to have hidden the camera but kept the tape running as they talked to the officer.
He told the driver the fine for being 30km/h over the speed limit was $300, but "that's a bit of a dent in the wallet isn't it?"
He let him off with a warning, telling the men to enjoy their stay.
YouTube has withdrawn the video as police investigate the apparently lenient treatment.
Central district commander Inspector Mark Lammas said he expected preliminary results from an investigation by the acting road policing manager for central police district later this week.
An officer was required by law to immediately suspend a motorist's licence for 28 days if the driver was caught at 161km/h, he told the Dominion Post.
"This is not discretionary - a constable must suspend the driver's licence as the law requires this," he said.
- NZPA
