New vehicle sales on track for record year
New car sales soar.
New Zealand new vehicle sales rose 10 % in August and are on track for a second record year.
This is despite a weaker currency pushing up the import prices.
New vehicle registrations increased to 11,192 last month from 10,189 in the year earlier month, says the Motor Industry Association.
New vehicle sales surged to a record 127,179 in 2014 and sales so far this year are 5% ahead of the same period last year.
Vehicle sales are underpinned by record migration, even as economic growth slows following a slump in dairy prices and the currency depreciates, making imports more expensive.
"The new vehicle market continues to defy general economic indicators," said MIA president John Manley. "Given the year to date sales position, it is likely the industry will break the 130,000 unit barrier in 2015 for the first time ever."
New passenger vehicle registrations soared 9.4% to 7752 compared with the year earlier month, marking the highest sales for an August month in 29 years. Commercial vehicle registrations shot up 11% to 3440.
Japanese car maker Toyota was the top selling brand in July, with 21% market share, followed by Ford with 11%, and Holden on 9%.
The Toyota Corolla was the top selling passenger model for the month, followed by the Toyota RAV4 and the Mazda 3.
The Ford Ranger was the top selling commercial vehicle model, followed by the Toyota Hilux and the Holden Colorado.
(BusinessDesk)
Tina Morrison
Thu, 03 Sep 2015
Thu, 03 Sep 2015
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New vehicle sales on track for record year
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