Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Boom in new vehicle sales shows no sign of slowing

Boom in new vehicle sales shows no sign of slowing down

September was yet another boom month for the new vehicle market, with surging sales of both passenger cars and commercial vehicles.

6915 new passenger cars were registered, a massive 28.5% increase on August and the biggest month the market has seen since March 1990. Commercial vehicle sales also continued to boom, with 2037 new vehicles registered, the best September since 1984.

“We see this as a continuing trend,” said Perry Kerr, CEO of the Motor Industry Association. “Favourable economic conditions and the improved price competitiveness of new vehicles have combined to give the new vehicle market renewed confidence. Increasing numbers of buyers are opting for the security, safety, driving pleasure and value that a new vehicle represents.”

The new vehicle market is now starting to consistently reach levels that haven’t been seen since before the used import boom started, and the MIA sees this as the start of a new era. “I believe that we are coming out the other end of the cycle that started in the early nineties, and that the new vehicle industry can look forward to continuing good times as long as the economy remains strong,” said Mr. Kerr.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>