October Big Month For New Car Sales

October the biggest month of the year for new car sales

October is traditionally the biggest month of the year for new car sales and October 2004 was no exception. 7377 new cars were registered, slightly down on the 7433 recorded in October 2003 but easily the strongest month so far in 2004. New commercial vehicle sales were down on the corresponding month of 2003 for the first time this year, but this mainly reflected supply shortages.

The total new vehicle market year to date October (82,289) was 5.8% ahead of last year’s record levels.

The Motor Industry Association remains in buoyant mood. “The continuation of strong new vehicle sales in contrast to a significant decline in sales of used imports reflects the reality that a fundamental shift in the market is going on,” said MIA CEO Perry Kerr. “An increasing supply of well-priced NZ-new cars is putting pressure on used imports, and the fact that these cars are in good demand is reducing the depreciation that used to be a barrier to new car sales. Buyers are recognising this, and are returning to the new car market.”

Toyota have extended their overall lead in both the passenger and commercial markets, whilst the Holden Commodore remains the country’s best-selling car.

© Scoop Media