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New vehicle sales bounce back in June

Media Release
July 10th 2008

New vehicle sales bounce back in June

Registrations of new vehicles in New Zealand have defied the economic gloom with a strong bounce back in June. After May results suggested that new vehicles had joined the downturn being experienced in other sectors, June produced a strong recovery.

6753 new cars found owners in June, a 20% increase on the May figure, and a 5.5% increase on June 2007, but new commercial vehicles produced an even more spectacular result. Sales of 2877 new commercial vehicles represented not only a 44% increase on May, but the best June result since 1982.

“This is confirmation that the era of imported used vehicles dominating the New Zealand vehicle market is all but over,” said Perry Kerr. CEO of the Motor Industry Association. “Despite an economy going through tough times, new vehicle sales are continuing at the highest levels seen in the last twenty years.

Toyota continued to dominate the new vehicle market with a year to date share almost double that of their nearest rival. The top selling new car in June (and year to date) was the Toyota Corolla, which is establishing a year to date lead over the Holden Commodore.

ends

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