More good news – new car sales show the economy is still doing well

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.

New car sales are booming.

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.”  

“There were 7502 passenger vehicle registrations and 3678 commercial vehicle registrations, which were once again the highest month of May on record for commercial vehicle registrations,” Mr Crawford said.

Toyota was the overall market leader for the month with 16% market share, followed by Ford with 14% and Holden third with 10% share.

Of the top three new vehicle models sold, the Toyota Corolla and RAV4 both feature highly in rental and fleet markets, while third-place getter the Mazda CX-5 shared the RAV4’s figure of 3% (and sold just three fewer units than its Toyota rival during May).

The battle for supremacy in the commercial vehicle market between Toyota and Ford continues, with the Ford Ranger regaining its position as the top-selling commercial model last month (21% market share). The updated Toyota Hilux was the frontrunner during April, but slipped to second place during May with 16% market share.

Following its arrival in the New Zealand market, the Ranger has proven a sales winner for the Blue Oval brand. It has spent considerable time at the top of both the commercial vehicle sales charts and the overall new vehicle sales league table, reflecting the huge growth the 2WD and 4WD ute market has experienced during the past 18 months. Similarly, SUVs continue to be bought in large numbers here.

Interesting that Toyota has released a new ute but it is still lagging behind Ford. Not surprising there, Hilux has fallen off their pedestal and the more people try alternatives the more that pedestal will look rather wonky.

 

– NBR


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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.

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