NZ new vehicle sales jump in June as annual Fieldays bolster demand

Tuesday 5th July 2016

New Zealand new vehicle sales rose to their highest level for a June month for 34 years, helped by demand at the National Agricultural Fieldays.

Registrations climbed 5.1 percent to 13,699 in June, the highest level for the month since 1982 and the second-highest for any month on record, according to the Motor Industry Association. Commercial vehicle registrations rose 13 percent to 4,513, the highest ever recorded for a June month, while passenger vehicle registrations gained 1.9 percent to 9,186.

New Zealand vehicle sales have hit annual records for the past two years, and so far this year sales are tracking 5.3 percent ahead of the same period last year, bolstered by a growing economy amid record tourism and migration. Commercial vehicle sales for the month were aided by demand at the agricultural Fieldays in Hamilton, with sales surpassing 4,000 for the third time on record, with the other two occasions in 2014 and 2015 also occurring in the June month due to Fieldays.

“Distributors that attended the annual Fieldays reported healthy demand for new vehicles," MIA chief executive David Crawford said in a statement. "Other factors that are key drivers of new vehicles are record levels of net immigration, healthy trade sector, and strong business confidence.”

The four top-selling models for June were all light commercial vehicles, reflecting continued strong demand for 4x2 and 4x4 utes, the MIA said. The three top-selling passenger models for the month were all SUVs.

Japanese car maker Toyota was the overall market leader for the month, with a 19 percent market share, followed by Ford with 11 percent and Holden with 9 percent, the MIA said.

BusinessDesk.co.nz

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