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


Boom times continue in new vehicle market

Media Release
6 December 2007

Boom times continue in new vehicle market

November was yet another month in which the New Zealand new vehicle market continued at close to record levels. 6723 new cars were sold during the month, 7% up on the same month last year and the biggest November for 18 years. New commercial vehicle sales were even stronger, with 2234 sold, 19.7% up on November 2006. We need to go back to 1982 to find a November in which more new commercial vehicles were sold.

Year to date November, 95,204 new vehicles have been sold, an increase of 2.5% on the same period last year, and 2007 is on target to challenge 2005 as the biggest year for new vehicles since the market started recovering from the effect of used imports.

“The new vehicle sector continues to push ahead with confidence,” said Perry Kerr, CEO of the Motor Industry Association. “This isn’t just a reflection of the state of the economy, but a long-term structural change as the market continues to move away from the influence of used car imports which had such a major impact during the nineties. Those days are now behind us.”

Toyota remains market leader in both passenger car and commercial vehicle sales, but Ford came within just two units in passenger cars for the month. Holden Commodore stretched its lead over Toyota Corolla as the country’s top-selling individual model year to date, although Ford Falcon took the November honours.

Sheet 1: Top fifteen distributors, full year 2006, month of November and YTD 2007, total vehicles, new cars, new commercials.

Sheet 2: Top fifteen sellers by model, full year 2006, month of November and YTD 2007, top fifteen rental cars November 2007.


© Scoop Media

Business Headlines | Sci-Tech Headlines


What Lies Beneath: Is The Housing Market Turning?
Rising interest rates, combined with further tightening of credit availability appear to be dampening the enthusiasm of investors and first home buyers. While house values continue to rise, what lies beneath QV's latest figures is growing evidence that price pressure has shifted... More>>

R&NTU: KiwiRail strike notices withdrawn following new offer

Strike notices on KiwiRail have been withdrawn. Rail and Maritime Transport Union General Secretary Wayne Butson says following negotiations between the RMTU and KiwiRail, a new offer from KiwiRail will be taken back to union members for ratification... More>>

Banking: Stress Tests Show Strengthening Bank Resilience

The latest stress tests carried out by the Reserve Bank of New Zealand – Te Pūtea Matua show strengthening resilience in the banking sector and the benefits of continuing to build capital buffers... More>>

Reserve Bank: Deputy Governor Reflects On Time At RBNZ
Central bankers must continue to look forward to guard against the unpredictable, Deputy Governor Geoff Bascand says in a speech published today. Mr Bascand joined the Reserve Bank of New Zealand – Te Pūtea Matua in 2013 during the aftermath of the Global Financial Crisis... More>>

Xero: Data Reveals ICT Expenditure Key To Small Business Sales Growth
Xero, the global small business platform, today released a new report which shows New Zealand small business ICT expenditure has increased 25 percent compared to pre-pandemic levels - more than the UK (20%) and Australia... More>>

Fonterra: Lifts Forecast Farmgate Milk Price Range And Revises Earnings Guidance At First Quarter Update

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range, reported a solid start to the 2022 financial year and revised its earnings guidance... More>>

Canterbury Museum: New Research - Bald Haast's Eagle Feasted On Moa Guts

New Zealand’s extinct Haast’s Eagle (Hieraaetus moorei), the largest known eagle, gulped down viscera like a vulture and may even have been bald, new research suggests... More>>