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

 

New vehicle sales flatten out in June

New vehicle sales flatten out in June

Although June was the second highest month of the year so far for both new cars and new commercial vehicles, there are signs that the new vehicle market has reached a plateau after five years of unbroken growth. June is traditionally a strong selling month, and while commercial vehicle sales of 2599 were virtually level-pegging with the same month in both 2005 and 2004, new car sales of 6392 were considerably down on the equivalent month in the previous two years. June 2005 (7713 new cars) was in fact the biggest month for new car sales in the last 17 years.

New car sales for the half year are 0.4% down on the equivalent period for 2005, while year to date new commercial sales are 5.7% down. This is the first time in five years that the new vehicle market has not been running ahead of the previous year.

“The new vehicle market is adjusting to some of the pressures that have been building up since late 2005,” said Perry Kerr, CEO of the Motor Industry Association. “The price of fuel, together with the forecast of softer economic growth, is having an effect on purchasing patterns, but we see it as a market adjustment rather than a doom and gloom situation. There’s still plenty of confidence out there, and the threat of the falling New Zealand dollar affecting prices will remain an incentive.”

Toyota took a huge step ahead of traditional rival Ford in June to consolidate their position at the head of the market, while Commodore and Falcon finished an uncustomary third and fourth in the individual model stakes for the month, behind Corolla and Mondeo.

Ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO:

Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>

ALSO:

Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>

ALSO: