You are using an older browser version. Please use a supported version for the best MSN experience.

NZ new vehicle sales headed for record

NZ NewswireNZ Newswire 4/09/2016 Tina Morrison

<span style="font-size:13px;">New Zealand new vehicle sales rose to a 32-year high in August.</span> © Getty New Zealand new vehicle sales rose to a 32-year high in August. New Zealand new vehicle sales rose to a 32-year high in August, with continued monthly gains signalling a new record is likely to be set this year.

Registrations of new vehicles rose 13 per cent to 12,677 in August from the year-earlier month, the highest level for the month since 1984, according to the Motor Industry Association.

Motor vehicle registrations in the first eight months of this year are 7.1 per cent ahead of the same period last year at 93,381. That suggests vehicle sales may be headed for a third straight annual record this year, as the economy is buoyed by low interest rates and record migration and tourism.

"Economic indicators remain the same as for recent months, with the strongest net immigration on record, a healthy tourism sector and a generally robust economy, all of which continues to drive sales of new vehicles year to date beyond that expected for 2016," MIA chief executive David Crawford said in a statement.

Commercial vehicle registrations rose 10 per cent to 3781, the highest ever recorded for an August month, while passenger vehicle registrations gained 15 per cent to 8896, the highest level for the month since 1984, according to the MIA data.

Japanese car maker Toyota was the overall market leader for the month, with an 18 per cent market share, followed by Ford with 12 per cent and Holden with 8 per cent, the MIA said.

image beaconimage beaconimage beacon