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

NZ new vehicle sales hit 32-year high

NZ NewswireNZ Newswire 4/04/2016 Tina Morrison

New Zealand new vehicle sales in March rose to the highest level for the month in 32 years, led by record demand for commercial models.

Registrations increased 3 per cent to 12,110 in March from a year earlier, marking the strongest March level since 1984, according to theMotor Industry Association.

Commercial vehicle registrations rose 6.5 per cent to 3,919, the highest ever recorded for a March month while passenger vehicle registrations gained 1.4 per cent 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 per cent 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."

Japanese car maker Toyota was the top selling brand in March, with 15 per cent market share, followed by Ford with 10 per cent, and Mitsubishi on 8 per cent.

The three top-selling models for February were all light commercial vehicles, led by the Ford Ranger with a 5 per cent market share, followed by the Toyota Hilux with a 5 per cent share and the Mitsubishi Triton with a 4 per cent share.

image beaconimage beaconimage beacon