Large Vehicle Sales Still Growing

18 October 2006

Large Vehicle Sales Still Growing

Sales of large vehicles are still growing despite high petrol prices and advice to downsize to more economical vehicles according to statistics released by Turners Auctions today.

New Zealand’s largest seller of used cars reports it has experienced 11 per cent category growth for sales of large vehicles with engines sized 3000cc and over, in the past quarter, compared to the same time last year. This accounts for 10 per cent of Turners’ total vehicle sales.

On the flipside though, the number of cars sold in the more economic, smaller 1300cc and under category has grown at an even faster pace, selling nearly 35 per cent more in this category than at the same time last year. However, this sized car still only makes up one per cent of Turners’ total vehicle sales.

Meanwhile, the average price of cars sold through Turners in the under 1300cc category has grown by more than 50 per cent in the past year, with the average price now sitting at around $6,075, compared to $3,936 for the same time last year. At the same time the average sale price of cars with engines over 3000cc has fallen by 10 per cent, down from $9,497 on average to $8,568.

Turners Auctions CEO, Graham Roberts said that oil prices were having a direct affect on car values.

“Demand for cars with smaller engines has pushed up the average sale price of small vehicles considerably, however at the same time a drop in the average sale price of large cars has resulted in continued growth in this category,” said Mr Roberts.

Toyota remains the car manufacturer of choice for Kiwis with one in every five cars sold at auction carrying the Toyota badge.

The Subaru Legacy continues to be the most popular individual model of car being sold through Turners nationally, with more than 1450 Subaru Legacys sold in 2006, to date.

The Subaru Legacy is closely followed by the Toyota Corolla and the Nissan Primera as the most popular models of car sold.

Silver was the most popular colour of car sold this year compared to last year’s top colour of white. White was relegated to second place this year followed closely by blue.

Turners Auctions sold 82640 cars in 2005 accounting for 8.7% of the total used car market in New Zealand.

ENDS

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