Small car sales increase to combat rising prices

Media Release

26 April 2010

Small car sales increase as Kiwis combat rising fuel prices

Three consecutive months of rising fuel prices may have contributed to consumers buying smaller and more fuel-efficient vehicles, according to figures released today by Turners Auctions.

 The report on second-hand car sales from the country’s largest vehicle auctioneers reveals sales of cars with an engine size of less than two litres has increased 3.3 per cent from the previous quarter ending December 2009.

“Over the last three months we have seen a steady rise in the sales of smaller, more fuel-efficient cars, a reversal of the trend observed in the second half of 2009 when larger cars were more popular,” says Turners Auctions spokesperson Todd Hunter.  

Smaller cars are also fetching higher prices at auction, showing punters are prepared to pay a little extra for long-term fuel savings.

“The average vehicle price for used cars under two litres is up $244 to around $5,846 which is the highest it has been over the last year. However the average price for a used car over three litres has decreased by $949 to around $12, 485,” says Hunter.

“In keeping with consumer preference for cars with smaller engines, Toyota Corolla has bumped the Holden Commodore off top spot as the most popular used car model amongst our buyers - further evidence of a move to cars that use less fuel,” says Hunter.  The once mighty Holden Commodore has now been banished to third place in Turners’ top 10 used make and model rankings – a huge fall after holding number one status during all of 2009.

Toyota also retained its number one position as most popular used car brand, despite the negative publicity received as a result of having to recall millions of faulty vehicles in the US and UK this year.

Subaru is showing an increase in popularity with the number two spot in the rankings now held by Subaru’s Legacy - up two spots from fourth place, and the Subaru Impreza replacing the Ford Mondeo in ninth place.

Conservative tones continue to dominate the top three most popular colours for used cars, with silver reclaiming the top spot, previously held by white in the last quarter of 2009.

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