Big start for 2003 new vehicle sales
Following a bumper 2002, in which 83,743 new vehicles were sold (the highest for twelve years), 2003 has started on an
even more buoyant note with 7159 new vehicles delivered in the month of January. The first month of the new year saw
5711 new cars sold, the highest since January 1990, and the 1448 new commercial vehicle sales recorded was the highest
since January 1984.
“There is no doubt that increased confidence in the new vehicle market is now entrenched,” said Perry Kerr, CEO of the
Motor Industry Association. “The strong domestic economy is part of it, and the rest is the reduced depreciation that is
bringing private buyers back to the new car market.”
January is not normally one of the biggest months of the year for new vehicle sales, but it often provides an indication
as to what the rest of the year will bring. “Every other January in the last twenty years in which the new car market
has surpassed 5700, the full year has been in excess of 74,000,” said Mr. Kerr. “If this pattern holds we will beat
2002’s record by 10,000 units.”
It’s not just the new vehicle market which had an excellent start to the year. Used imports also had a record for the
month of January. “Clearly all sectors of the market are doing well in volume terms,” said Mr. Kerr. “In the case of
used imports, however, not only has the need to meet frontal impact standards had absolutely no effect on sales, but
there is another factor driving demand. This is the fact that prior to frontal impact the cars being imported were an
average of eight years old, meaning that their remaining useful life was very limited. We are now seeing in the numbers
the accelerated replacement rate of these short-life vehicles.”