New car sales is a rough and ready indicator of how well an economy is doing. If sales are rising then businesses have confidence in the economy and make buying decisions accordingly. If the economy is performing poorly then money stays in the pockets and wallets of business.
The golden summer of 2016 continues on into winter for new car distributors as records continue to tumble in the New Zealand new vehicle market.
Following on from impressive March and April results, last month also saw plenty of foot traffic through showroom doors, leading to the strongest figures for May since national sales data began being recorded.
Motor Industry Association chief executive David Crawford last week announced there were 11,180 new vehicles sold in May, “the strongest month of May since the MIA begin collating sales data in 1975.” “Registrations were up 1146 (11.4%) over May 2015 and 2812 units (5.3%) year to date compared to this time in 2015.” Read more »