New car sales highest since 1984

How good is the economy?

Pretty damn good if you use indicators like new car sales.

Registrations increased 3 percent to 12,110 in March from a year earlier, marking the strongest March level since 1984, according to the Lower Hutt-based Motor Industry Association.

Commercial vehicle registrations rose 6.5 percent to 3,919, the highest ever recorded for a March month while passenger vehicle registrations gained 1.4 percent to 8,191, the strongest level for the month since 1989.

New Zealand vehicle sales have hit annual records for the past two years, and in the first quarter of this year are tracking 3 percent ahead of last year.

Vehicle sales are being underpinned by a growing economy bolstered by record migration and tourism as rivalry keeps a lid on prices.  

“Strong net immigration, competitive pricing and end of financial year deals drove strong new vehicles registrations in March 2016,” said MIA chief executive David Crawford.

“The month of March continued the overall strong performance of the new vehicle sector over the last three years.”

People and companies don’t buy new vehicles when things are tight. Car sales is always a good economic indicator to watch.

It was the one thing I noticed in Fiji between 2012 and 2014, the changes in the vehicle fleet was astonishing. In 2012 there were many older cars, by 2014 there were plenty of new cars. Fiji was regaining its economic base.

So while Labour moans about the economy, people and businesses are showing their confidence by buying new vehicles.

 

– NZ Herald


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.

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