New vehicle market continues to grow

New vehicle market continues to grow

The solid growth trend in the new vehicle market shows no signs of abating. March sales of 6602 new cars were 14.4% up on February, and an impressive tally of 2507 new commercial vehicles produced a 37% lift on the previous month. It was the biggest March for new cars for 15 years and the biggest month for new commercials for 20 years. First quarter sales of 24,003 new vehicles represented a 3.1% improvement on the same period in 2004.

The Motor Industry Association remains in buoyant mood. “Despite increased interest rates and darkening clouds over the economy, new vehicle sales in both the private and business sectors are continuing to increase, “ said MIA CEO Perry Kerr. “The fact that this is happening as sales of used imports are dropping off from last year’s levels confirms that a fundamental shift in the market is taking place.”

The ‘battle of the brands’ is really hotting up. Ford and Toyota dead heated for the month with 1385 vehicles each and are only 45 units apart year to date. In passenger cars, Honda had a spectacular March to be nibbling at the heels of the top three.

Commodore maintains its clear lead as the country’s top-selling model, but there are only 32 units between the 6th and 11th placed models. This is proving to be a real battle for the minor placings.

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