INDEPENDENT NEWS

New vehicle market slightly down but not out

Published: Wed 5 Nov 2008 09:33 AM
Media Release
November 4th 2008
New vehicle market slightly down, but definitely not out
October’s new vehicle market reflected the effects of global financial influences, but not to anything like the extent that certain overseas markets have suffered.
New passenger car sales, at 7477 for the month, were 12% up on September, but 5% down on October 2007. New commercial vehicle sales reached 1863, marginally up on September’s level, but 13% below the figure for the same month last year. Both passenger and commercial vehicle sales fell back to approximately October 2005 levels, and the total new vehicle market is now running year to date at 2.6% below the first ten months of 2007.
“It’s nevertheless a pretty good performance considering the economic headwinds,” said Perry Kerr, CEO of the Motor Industry Association. “What’s even more significant is that the industry has finally put the used import era behind it. In October, not only did the number of new passenger cars sold beat the equivalent used import figure by 13%, but it was the first month since July 1994 that new car registrations had exceeded those of used imports.”
Toyota is in an unassailable position for full year market share with a 30% plus performance in October, and Corolla is streaking away from Commodore, Swift and Falcon as the year to date top-selling car model.
Sheet 1: Top fifteen distributors, full year 2007, month of October and YTD 2008, total vehicles, new cars, new commercials.
Sheet 2: Top fifteen sellers by model, full year 2007, month of October and YTD 2008, top fifteen rental cars October 2008
ends

Next in Business, Science, and Tech

What Lies Beneath Is The Housing Market Turning?
By: Quotable Value New Zealand
KiwiRail strike notices withdrawn following new offer
By: Rail And Maritime Transport Union
Stress Tests Show Strengthening Bank Resilience
By: Reserve Bank
Deputy Governor Reflects On Time At RBNZ
By: Reserve Bank
Data Reveals ICT Expenditure Key To Small Business Sales Growth
By: Xero
Fonterra Lifts Forecast Farmgate Milk Price Range And Revises Earnings Guidance At First Quarter Update
By: Fonterra
Canterbury Museum: New Research - Bald Haast's Eagle Feasted On Moa Guts
By: Canterbury Museum
View as: DESKTOP | MOBILE © Scoop Media