Car buying trends lock in
New car sales in New Zealand look set to record six straight years of annual growth.
Despite being hit by the recent higher fuel prices, new car registrations should nudge past the last year’s total of 160,124.
The picture is not so rosy for used imports, which have slumped in recent months.
New car sales have been helped by tourism creating a strong demand for rentals and New Zealand’s relatively low interest rates and high immigration.
Holden NZ’s new managing director, Marc Ebolo, told Newsroom that the SUV segments (compact, medium and large) remain strong.
Sales of electric vehicles are increasing but still make up just 1 percent of the market and for most months this year, the top-selling vehicle has been a twin cab ute.
In this video interview with Mark Jennings, Ebolo says the demand for the utes is not just from tradies - many buyers now see them as viable replacements for the family car.
*Holden is a foundation partner of Newsroom.co.nz