New Vehicle Industry Celebrates a Watershed Year
The new vehicle industry is celebrating 2002 as a turning point in the re-emergence of new vehicle sales as a
measurement of consumer confidence. Total new vehicle sales in 2002 reached 83,743 units, a 12.1% increase on 2001 and
the highest annual sales level since 1990.
Sales of new passenger cars, at 64,086, were up 10.2% on the previous year and the highest since 1996, whilst new
commercial vehicle sales, with 19,657 units, jumped 18.7% on the previous year to post the highest sales volume since
1985.
“2002 was a great year for the new vehicle industry,” said Perry Kerr, Chief Executive Officer of the Motor Industry
Association (MIA). “The strong resurgence in sales of new commercial vehicles is particularly noteworthy, as it
underpins renewed confidence in the productive sectors of the economy. We are also seeing the continuing recovery in new
car sales to private buyers, as awareness of reduced depreciation continues to grow.”
Mr.Kerr highlighted the positive impact of the frontal impact standards for used import cars which took effect in April
2002. “The Government is to be congratulated for this initiative,” he said, “however it is important that the impetus is
not lost. If we do nothing more, we will see used imports continue to regress in age and condition, a scenario which
will do nothing for safety on the roads, the depreciation of the vehicle fleet in general, or the environment.”
“The frontal impact standards have resulted in the importation of safer, better quality used cars,” said Mr. Kerr, “and
contrary to the predictions of some importers the volume of business hasn’t been affected, as 2002 was a record year for
used vehicle imports.”