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Used import car sales up 31 percent on last year

 

Used car imports into New Zealand for August have increased by a nearly third, both on the same month last year, and when compared year to date to 2013.

The used passenger market is up 31 percent, when compared to the same month last year (2014: 11,290 units, 2013: 8,648 units). It was also up 31 percent year to date (YTD), on last year (2014: 83,698 units, 2013: 63,917 units).

“The volume of used import cars coming into New Zealand and onto the roads is building up significantly. We’re in our fifth year of year-on-year growth for used imports, and our fourth year of continuous growth in new cars,” MTA Chief Executive Warwick Quinn says.

“If imports continue at the current rate for the rest of the year, without substantial changes in exchange rates or supply, we are looking at around 214,000 new and used imported cars for 2014 – the largest number since 2005.”

The new car segment was up 3 percent for August 2014 on the year prior (2014: 7,083, 2013: 6,828) with the sector up 10 percent YTD (2014: 58,480, 2013: 53,375).

New Zealand’s new commercial market is still running hot, with a similarly-strong growth in used commercials. The new sector was up 19 percent for August on the same month last year (2014: 3,106, 2013: 2,602), with YTD sales up 21 percent (2014: 24,235 units, 2013: 16,988 units). Quinn says, should this trend continue, we might see 2014 as a record year for commercial vehicle sales which could exceed the 2004 record of 37,869 units.

Ford’s Ranger ute dominated the new commercial vehicle sector, selling 548 units, followed by Toyota Hilux (413 units), and Toyota Hiace (254 units).

While selling smaller volumes, the imported used commercial sector had a different complexion: box vans dominated the top sellers, led by Toyota Hiace (256 units), Nissan Caravan (54 units) and Toyota Regius (32 units).

However, the imported used commercial market was up 22 percent compared to last August (2014: 667, 2013: 546), and up 32 percent YTD (2014: 5,010, 2013: 3,783).

“Overall, it’s a particularly exciting time to be in this industry. This will have positive effects across the whole automotive sector.”

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