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


No sign of letup in new vehicle market

Media release

For Immediate Release
3 December 2003

No sign of letup in new vehicle market

November saw a continuation of the buoyant new vehicle market which has now been running unabated for two years. Reflecting both the strong economy and the lower depreciation costs faced by new car buyers, November new car sales reached 5,789, the strongest November since 1990, whilst sales for the year to date, at 64,388, are already ahead of 2002’s full year figure of 64,086.. Although still strong, November sales were well down on October’s record 7,433, but as is usually the case October is always a strong month for rental car deliveries.

It was an even more impressive result for new commercial vehicle sales. At 1,769, it was the strongest November for commercials since 1984, and the 19,902 new commercials sold year to date exceeds the total for any full calendar year since 1985.

“The new vehicle industry is certainly reaping the rewards of favourable market conditions,” said Perry Kerr, CEO of the Motor Industry Association. “Consumers are seeing the benefits of upgrading to the safety, dependability and driving pleasure offered by a new vehicle, and we don’t expect this trend to change in the foreseeable future. It would be nice to see a 70,000 new car market for 2003. We may miss that by a whisker, but a 90,000 market for total new vehicles would be equally rewarding, and this looks virtually certain. This figure has not been reached since 1990”

Ford rebounded from their October fourth place in both passenger and total vehicles to take leadership for the month. Passenger car leadership for the year is still a mathematical possibility for the blue oval, but it looks like Toyota has sewn up the total vehicle market yet again.

Regarding individual models, the see-saw between Falcon and Commodore continues. Falcon led in November, but Commodore is too far ahead year to date to be threatened. Corolla hangs in for third place.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Talking Up The Economy: NZD Gains On PM's Mistaken GDP Comment

Her comments were downplayed by her chief press secretary who said she was referring the government's June year financial statements and had "made a mistake." More>>


Oxfam: Drug Companies Cheating Countries Out Of Billions In Tax

Oxfam’s analysis suggests these four companies are shifting profits out of countries where they do their business and into tax havens that charge little or no tax. More>>

Off The Lam: 50 Lambs Reported Lost, Found

The sheep had escaped and merged with another farmer’s flock. The combined flocks had been moved to another property before the farmer realised the missing sheep were included. More>>

Rotting Poles: Commission To File Proceedings Against Aurora Energy

The Commerce Commission has decided to file court proceedings against Dunedin-based electricity lines company Aurora Energy for breaching its regulated quality standards in 2016 and 2017. More>>


Gordon Campbell: On The Rising Cost Of Petrol

As petrol gets more and more expensive, Auckland motorists have several things to blame for it – the slumping value of the Kiwi dollar, Donald Trump’s sanctions on Iranian oil, hurricanes in the Caribbean… But it is simpler and feels better to lay all the blame on the regional fuel tax. More>>