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Vehicle sales boom shows no sign of slowing down

Media Release

For Immediate Release
3 October 2003

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.

ENDS

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