New vehicle sales rise to highest level in 32 years in March
Registrations increased 3% to 12,110 in March from a year earlier.
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Hawke’s Bay
New Zealand new vehicle sales in March rose to the highest level for the month in 32 years, led by record demand for commercial models.
Registrations increased 3% to 12,110 in March from a year earlier, marking the strongest March level since 1984, according to the Lower Hutt-based Motor Industry Association. Commercial vehicle registrations rose 6.5% to 3919, the highest ever recorded for a March month while passenger vehicle registrations gained 1.4% to 8,191, the strongest level for the month since 1989.
New Zealand vehicle sales have hit annual records for the past two years and, in the first quarter of this year, are tracking 3% ahead of last year. Vehicle sales are being underpinned by a growing economy bolstered by record migration and tourism as rivalry keeps a lid on prices.
"Strong net immigration, competitive pricing and end of financial year deals drove strong new vehicles registrations in March 2016," MIA chief executive David Crawford said. "The month of March continued the overall strong performance of the new vehicle sector over the past three years."
Japanese car maker Toyota was the top-selling brand in March, with 15% market share, followed by Ford with 10% and Mitsubishi on 8%.
The three top-selling models for February were all light commercial vehicles, led by the Ford Ranger with a 5% market share, followed by the Toyota Hilux with a 5% share and the Mitsubishi Triton with a 4% share.
(BusinessDesk)
Tina Morrison
Tue, 05 Apr 2016
Tue, 05 Apr 2016
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New vehicle sales rise to highest level in 32 years in March
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