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2000 tough year for new car sales

By Phil Boeyen, ShareChat Business News Editor

Wednesday 10th January 2001

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Latest vehicle registration figures prove what companies like Colonial Motors (NZSE: CMO) already knew - last year was a tough one for new car sales.

Figures from the Land Safety Transport Authority show registrations fell more than 7% over the previous year to 245,901.

Toyota topped the market share for new car registrations in 2000 with 9,116 or 15.8% of the market, Ford came in second with 14.5% and Holden third at 14.1%.

Toyota also held market share leadership for new commercial vehicle registrations with 24%, just ahead of Ford with 23.7%.

The LTSA says the most popular new car registered last year was the Holden Commodore, with 4,941 registrations processed.

December registrations fell 15% compared with December 1999.

Colonial Motors, which last year lifted its full year profit by 20% to $7.853 million, told shareholders at its AGM in November that an increase in trading activity in rural and provincial areas has not been sufficient to offset lower metropolitan results.

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