Kiwi dollar boosts new vehicle sales

JASON KRUPP
Last updated 08:12 05/10/2012

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Sales of new vehicles charged higher last month on the back of the high New Zealand dollar, with the new car category chalking up its strongest September in over four years.

According to figures from the Motor Trade Association, 8690 unused vehicles were sold in New Zealand in September, a 14 per cent increase on the same month a year ago.

Year to date, overall sales are now up by 11,265 units or 17 per cent.

"With the New Zealand dollar remaining at close to historically high rates, a new vehicle is stacking up as a compelling proposition for more and more people," Stronach said.

New car sales rose 17 per cent to 6,637 units. Year-to-date, new car sales are ahead of 2011 by about 20 per cent.

"September is often a strong month sales wise with many of the new season's rental fleet being included," said MTA spokesperson Ian Stronach. "Indications this year though are that rental deliveries have only been modest, meaning the sales performance is even more noteworthy than it first appears."

The figures also show demand for new commercial vehicle market was robust, up 6 per cent in September to 2053 units versus the same month a year ago - a five year high for the category.

Year to date, overall new commercial sales rose 12 per cent.

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- BusinessDay.co.nz

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