Sales of both new and used imported vehicles returning to pre-GFC levels; commercial vehicles sales strong also

Sales of both new and used imported vehicles returning to pre-GFC levels; commercial vehicles sales strong also

Sales of new cars are booming too, much like the real estate market.

October data from NZTA shows that 7,336 new cars and 6,867 imported used cars were sold in the month, levels that are similar to those recorded in the 2006 - 2008 period.

These October sales levels represent growth of +35.2% over the same month a year ago for new cars, and growth of +9.6% for used imports.

For the full year to October, growth in new cars is an impressive +18.3% compared with the previous full year.

The picture is not so positive for used imports - on a full year basis to October, these have fallen -4.6% due to the adjustments that industry has had to make to respond to the updated emmissions and fuel efficiency regulations.

The most popular brand of new cars sold in October are Toyotas (1,862), a long way ahead of second place Ford (928). Toyota was also the most popular brand of used import (1,790), but more closely followed by Nissan (1,283) and Mazda (1,199).

There were two Aston Martins sold in October, zero Ferraris (although there were two used imports sold), one Maserati, one Bentley and one Rolls Royce. Eleven Porsches were sold in the month.

Sales on commercial vehicles were also up strongly, up +28.4% from the same month a year ago and up +11.2% on a full year basis.

October is often a peak month for vehicle sales, and this year is the highest such month in four years, reprising the levels last seen before the GFC.

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Raise. Interest. Rates. Now.

Be careful what you wish for...
New cars? if many NZers are like me they couldnt contemplate a new car.  Soo sure raise the OCR and watch business struggle, fold, lay off staff and watch the recession boom here.
Just who do we hurt?

Watch for the art/wine/antique market to take off next.

and alpacas
stamps anyone ?

I have a lovely timeshare package I would be happy to tuck you into - located just up the road in Murupara.

Car sales booming, imports & debt rising, the housing ponzi taking off, record profits to "our" banks and export industries dropping like flies.What happened to the export led rebalancing? Bill, John, anyone?
Watch that current account blow out big time and our net international investment position hit "worst in the developed world" status.
BTW, what was plan B?

if you want to import the vehicle independently I recommend that you talk with an entry certifier early in the process to get their advice on your vehicle’s suitability.
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