New vehicle sales trending down at year end

New vehicle sales trending down at year end

The 2008 New Zealand new vehicle market started the year strongly, but the economic winds of change started to blow from mid-year, and every month from July onwards registered a decline on the equivalent month in 2007.

New car sales in December reached 5224, a 6.1% drop on December 2007, and new commercial vehicle sales were 1597, also a 6.1% reduction. For the full year, new passenger car sales were 73,397 (a 5.2% reduction on 2007) while new commercial vehicle registrations totalled 23,933 (4.3% down).

For passenger cars, 2008 was the lowest year since 2003, but for commercial vehicles the total was behind 2007’s result but ahead of that for 2006.

“It’s a reality that New Zealand’s new vehicle market is being affected by global economic conditions,” said Perry Kerr, CEO of the Motor Industry Association, “but the figures are not as dismal as they are in certain other parts of the world. Our new vehicle sector, supported by customers who recognise that exchange rates are starting to have an adverse effect on vehicle prices, is proving very resilient to challenging market conditions.”

Toyota totally dominated the market in 2008, with almost twice the market share of its nearest rival (Ford), and the Toyota Corolla finished the year as by far the country’s biggest-selling car model, with 60% more sales than the second placed Holden Commodore.

ENDS

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