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

 

New vehicle market shows no sign of slowing

Media Release

For Immediate Release
3 June 2005


New vehicle market shows no sign of slowing

The new vehicle sales boom continues. May figures were well up on April, and also exceeded the record figures posted in May last year.

6061 new cars were registered, 9.8% ahead of April, and 3.2% ahead of May 2004. New commercial vehicles showed even more spectacular growth, with 2358 sales exceeding the April figure by 23.7%, and beating May 2004’s tally by 26.3%. It was the largest May for new car sales since 1990, and the biggest for commercials since 1982. Year to date, the total new vehicle market for the first five months of 2005 was 5.5% ahead of the same period last year.

“The new vehicle market continues to gather strength despite the threat of economic slowdown,” said Perry Kerr, CEO of the Motor Industry Association. “In fact we believe that the economy is playing a lesser role in this trend, because the underlying fact is that the public now understands that new vehicles represent fundamentally better value than they use to, both on an outright cost and a depreciation basis.”

Ford convincingly wrested passenger car leadership from Toyota in May, both for the month and year to date, but Toyota’s exceptional performance in commercials saw them hold onto their lead in total vehicles.

The Holden Commodore remains New Zealand’s most popular new vehicle.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. 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:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

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>>