Boom times continue in new vehicle market

Media Release
6 December 2007

Boom times continue in new vehicle market

November was yet another month in which the New Zealand new vehicle market continued at close to record levels. 6723 new cars were sold during the month, 7% up on the same month last year and the biggest November for 18 years. New commercial vehicle sales were even stronger, with 2234 sold, 19.7% up on November 2006. We need to go back to 1982 to find a November in which more new commercial vehicles were sold.

Year to date November, 95,204 new vehicles have been sold, an increase of 2.5% on the same period last year, and 2007 is on target to challenge 2005 as the biggest year for new vehicles since the market started recovering from the effect of used imports.

“The new vehicle sector continues to push ahead with confidence,” said Perry Kerr, CEO of the Motor Industry Association. “This isn’t just a reflection of the state of the economy, but a long-term structural change as the market continues to move away from the influence of used car imports which had such a major impact during the nineties. Those days are now behind us.”

Toyota remains market leader in both passenger car and commercial vehicle sales, but Ford came within just two units in passenger cars for the month. Holden Commodore stretched its lead over Toyota Corolla as the country’s top-selling individual model year to date, although Ford Falcon took the November honours.

Sheet 1: Top fifteen distributors, full year 2006, month of November and YTD 2007, total vehicles, new cars, new commercials.

Sheet 2: Top fifteen sellers by model, full year 2006, month of November and YTD 2007, top fifteen rental cars November 2007.

ENDS

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