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Used commercials down

There were 975 used imported commercial vehicles sold last month, a 21.9 per cent decrease compared to March 2017, when 1,249 vehicles were registered.

Year to date the total has dropped by 7.2 per cent or 228 registrations, compared to the first three months of 2017.

Most regions recorded losses during March compared with the same month last year, Auckland led the way with a 26.0 per cent fall (162 units). Followed by Christchurch and Wellington who showed decreases of 29.5 per cent and 23.4 per cent when compared to the same month last year.

Dunedin was one of the exceptions, with sales increasing from 32 in March last year to 43 last month, an increase of 34.4 per cent.

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Used imported cars at two year low

Registrations of used imported passenger vehicles were down compared to March last year, with sales decreasing by 18.2 per cent, or 2,633 units, bringing this month’s total to 11,841. The lowest month recorded since February 2016.

Year-to-date, the used imported passenger market has dropped by 5.2 per cent – or 2,059 units – compared to the first three months of 2017.

Most regions around New Zealand saw losses in used imported passenger vehicle registrations in March. Out of the main centres, Wellington went from 1,103 sales in March last year to 834 last month, a decrease of 24.4 per cent. Auckland and Hamilton also didn’t compare well to a year earlier, showing decreases of 18.4 per cent and 22.0 per cent, respectively. 

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Imports drop across the board

A total of 10,924 used passenger vehicles and 9,999 new passenger vehicles were recorded to have crossed the border last month. Compared with March 2017, both of these markets have fallen, used passenger vehicles by 44.1 per cent and new passenger vehicles by 6.5 per cent.

In terms of the light commercial market, 467 used and 2,953 new commercial vehicles arrived in New Zealand last month – these imports were also down compared to the same month last year, by 10.5 per cent and 18.1 per cent, respectively.

Regarding year to date statistics, three of the four markets recorded a decrease. Used passenger vehicles registered a 29.77 per cent (13,086 units) fall compared to the same period in 2017. Used light commercials registered a 27.15 per cent (515 units) decrease, and new light commercials registered a 6.45 per cent drop (553 units).

Importers brought in 10,154 used cars from Japan – a huge 44.9 per cent decrease compared to March 2017. There was also a fall in used car imports from both Australia and the UK compared with the same month last year – a decrease of 37.9 per cent 60.6 per cent, respectively.

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Wholesale vehicle sales up nearly 6%

All wholesale trade industries recorded higher sales in the December 2017 quarter, Stats NZ said today.

The seasonally adjusted total sales value for wholesale trade rose 3.0 per cent in the December 2017 quarter, after rising 1.4 per cent in the September quarter.

The December rise was the seventh-consecutive quarterly rise and the largest since the September 2010 quarter, when the value rose 3.8 per cent.

By industry, basic materials wholesaling had the largest increase in sales value, up 6.3 per cent ($354 million) from the September quarter when adjusted for seasonal effects.

“Other agricultural products wholesaling was the main contributor to the increase in basic materials industry,” wholesale trade manager Sue Chapman said.

Other agricultural products wholesaling includes businesses supplying products such as livestock, feed, seed, and fertiliser. Petroleum products and hardware goods also made sizeable contributions to the increase in basic materials.

Machinery and equipment had the second-largest rise of all industries, up 3.3 per cent ($167million). Machinery and equipment includes agricultural and construction machinery, computer and computer peripherals, telecommunication goods, and professional and scientific goods.

Motor vehicles

The third-largest rise in sales value by industry was in motor vehicles and parts, including cars and trucks, up 5.9 per cent ($153 million) in the December quarter. This rise follows a 3.0 percent fall in the September quarter.

“The sales rise in motor vehicles and parts wholesaling coincides with a recent increase in retail sales of vehicles and parts,” Ms Chapman said. “Retail trade survey for the December 2017 quarter showed that motor vehicles and parts sales rose in both value and volume.”

Source: Stats NZ

Wholesale vehicle stocks up 7.2 per cent

The total value of wholesale trade stocks held at 31 December 2017 was $11.6 billion, up 7.2 per cent ($781 million) when compared with 31 December 2016.

Stocks rose from the December 2016 quarter in all the six wholesale industries, with motor vehicles and motor-vehicle parts leading the rise.

Motor vehicles and motor-vehicle parts were up 16 per cent ($285 million) in the December quarter, when compared with the same period in 2016.

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Used cars up year to date

Registrations of used imported passenger vehicles were slightly down compared to February last year, with sales decreasing by 1.7 per cent or 212 units bringing this month’s total to 12,048.

Year to date, the used imported passenger market is still up 2.3 per cent – or 574 units – compared to the first two months of 2017.

Toyota has retained the top spot with a market share for the month of 23.8 per cent with 2,872 registrations. Nissan sold 1,996 for a 16.6 per cent market share.

The battle for top used car model was close with the Suzuki Swift back in the top spot, but only by 9 units, while the Mazda Axela was second and the Nissan Tiida was third – bumping the Mazda Demio into fourth.

There were 581 Swifts sold during February –  up 5.4 per cent on the same month of last year; Axela registrations totalled 572 units –  an increase of 0.4 per cent, and 514 Tiida sales – a decrease of 4.8 per cent. 

The three models hold 4.7 per cent, 4.8 per cent and 4.2 per cent of the monthly market share respectively.

In terms of regions, Invercargill went from 132 sales in February last year to 184 last month, an increase of 39.4 per cent. Rotorua and Gisborne also did will compared to a year earlier showing increases of 25.9 and 23.2 per cent respectively.

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Used light commercials steady

The number of used light commercials registered in New Zealand last month came in at 948 resulting in 1,972 being sold so far this year. This represented an increase of 2.4 per cent against the year-to-date total for 2017, which was 1,626.

Once again, the Toyota Hiace was the top used commercial model.

Last month, there were 300 used Toyota Hiaces registered. Two Nissans took out second and third – the Caravan on 74 and NV200 with 41.

Toyota secured a market share of 42.9 per cent with 407 registrations. It was followed by Nissan with 203 and 21.4 per cent, and Mazda on 41 and 4.3 per cent.

The Toyota Hiace remained the dominant model, with a 32.6 per cent market share and sales of 300 last month. This was more than 200 ahead of the Nissan Caravan and Nissan NV200, who had sales of 74 units and 41 units, respectively. 

Comparing February 2018 with the same month of last year, Blenheim had an increase in sales of used commercial vehicles of 350 per cent – up from 2 a year ago to 9 last month.

Rotorua experienced a 75 per cent increasing to 28 units last month up from 16 in February 2017.

The third biggest percentage gain was recorded in Invercargill – a jump of 40 per cent on the back of 14 registrations.

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Toyota takes out double

A bumper December has resulted in sales of new passenger vehicles coming in at 108,608 last year – 5.8 per cent ahead of 2016’s total of 102,644.

There were 8,151 units registered in the last month of 2017, which was a one per cent rise from 8,069 in December of the previous year.

The top-selling model for the year and month was Toyota’s Corolla on 7,801 units for 2017 and 1,116 in December, which represented an annual market share of 7.2 per cent. The RAV4 was second for the year on 4,635 and 4.3 per cent. Third spot went to the Kia Sportage with a market share of 3.3 per cent thanks to 3,559 sales.

The Corolla was 2017’s best-selling new passenger vehicle.

The marques ladder for 2017 was also topped by Toyota on 20,919 units and a market share of 19.3 per cent. Mazda took the runners-up spot with 9,927 units and 9.1 per cent. Holden secured an 8.9 share with 9,709 registrations to come third.

Overall, Toyota NZ is celebrating 30 years as the dominant brand for passenger and light commercial vehicles in this country. In 2017, its 68 dealers sold 33,008 new vehicles for a 20.7 per cent share of the market, according to the marque. It says this was up by 5,533 on 2016 for a jump of 20.1 per cent.

Neeraj Lala, general manager of new-vehicle sales, expects Toyota to remain at the top in 2018. “We have another exciting year ahead with a number of significant new models, including an updated Hilux. We expect market growth to continue, particularly in the SUV segment where we have six models.”

Another marque patting itself on the back is Mitsubishi Motors NZ, which reports overall growth of 29 per cent year on year.

“The Outlander has been a Kiwi family favourite for some time and the ASX resonates with a broad range of New Zealanders,” says Daniel Cook, general manager of vehicle sales and marketing. “With the Eclipse Cross having joined the family, we’re confident of continuing our market-leading growth in 2018.”

Cook describes breaking through 10,000 overall new-vehicle sales during 2017 as “massive – we set this target for a calendar year back in 2009 and haven’t let up since”.

Eight years of year-on-year growth have seen Mitsubishi increase its total car and light commercial market share to 7.4 per cent supported by “new releases, updates and a comprehensive approach to customer service”. It says it has been ahead of the curve in key areas – especially with ute and SUV sales.

“We have also kept innovation at the forefront of our new releases, such as the Outlander PHEV, New Zealand’s most popular plug-in hybrid SUV,” adds Cook. “We still have some big ambitions, so it’s important we set ourselves a challenge to build on recent success. We’re operating in a dynamic, highly competitive market offering more choice to consumers than ever.”

Last year was one that entered Subaru of New Zealand’s record books with more than 3,000 units sold. Its 3,347 new-car sales secured a market share of 3.1 per cent.

Managing director Wallis Dumper says that by November the marque was 27 per cent ahead year on year from 2016. The Outback made up nearly half of its total sales achieved in 2017. After a good 2016, it exceeded sales expectations to sit 15 per cent ahead last year.

“There has been remarkable demand for the new XV,” says Dumper. “The high numbers flying out of our dealerships means we don’t have enough supply to keep up with demand. In response to the unprecedented demand for our eight-model range of Boxer-engined beauties, we have received more production allocation from Japan.

“We were targeting this never-achieved-before figure of 3,000 sales at the beginning of last year and couldn’t have done it without our 16 partners across New Zealand.”

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An impressive year for used passenger vehicles

2017 has been an impressive year for the sales of used imported passenger vehicles.

2017 highlights
In terms of year-on-year sales, there were 165,654 used imported cars registered in 2017, a huge 16,128 units or 10.8 per cent more than the same period in 2016, when 149,526 units were sold.

Toyota cemented its place as the number-one used imported car brand. It sold 41,692 units in 2017 for a market share of 25.2 per cent, Nissan and Mazda were second and third place , respectively with 31,190 and 25,594 units sold, respectively and an 18.8 and 15.5 per cent market share for the past 12 months.

The Nissan Tiida had the most sales for the year, with a total of 7,358 and a market share of 4.4 per cent. The usual culprits were inIn a very close second place, the Mazda Axela ended with a market share for the year of 4.4 percent and 7,319 sales, followed by the Suzuki Swift with 6,958 sales and a market share of 4.2 per cent.

It was also no surprise that the vast majority of used imported cars continued to come from Japan. There were 160,822 used cars imported from Japan during 2017, giving it a market share of 93.8 per cent.

December highlights

December 2017 increased 7.0 per cent on the same month last yearfrom 2016 with 14,102 sales compared to 13,181 in December 2016.

Importers brought in 12,283 used cars from Japan – a 9.9 per cent increase on December 2016. There was a fall in used car imports from Australia and the UK compared to the same month last year. Australia ended December on 435 units, a decrease of 7.4 per cent and the UK with 104 units, a decrease of 48.3 per cent.

The Mazda Demio was the number-one selling used import for December with 637 sales, a 30.8 per cent increase on December 2016’s 487. The Demio outnumbered the Nissan Tiida, who ended on 615 sales, a decrease of 20.6 per cent compared to the same period in 2016.

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Another great year for used commercials

2017 was another great year for used commercial vehicles, with the sector showing an overall healthy increase in registrations.

2017 highlights
In total, 13,032 used commercial vehicles were registered in 2017, a massive 18.8 per cent increase on the previous full year, where 10,967 used commercial imports were registered in New Zealand.

Toyota remained on top with 5,936 registrations during 2017, ending the year with a market share of 45.5 per cent, while its Hiace claimed the biggest market share of all models with 34.3 per cent thanks to 4,465 registrations in this sector.

The Nissan Caravan was runner-up in the models chart with 953 registrations for a 7.3 per cent share of the overall total, while Mazda’s Bongo came third and achieved 728 and 5.6 per cent. Toyota’s Regius finished fourth on 518 units to claim a 4 per cent market share.

Nissan came second on the marques ladder with 2,781 units for a market share of 21.3 per cent, while Mazda finished third with 874 and 6.7 per cent and Isuzu was fourth with 5.2 per cent and 676 units.

Nearly all regions around New Zealand saw gains in 2017. Key highlights were Wellington where 820 vehicles were registered compared to only 524 in 2016, a 56.5 per cent increase and Gisborne nearly doubled from 42 units to 78 units an 85.7 per cent increase.

December highlights
Commercial registrations were down two units to 1044 last month, compared to December 2016’s 1046.

Toyota is again the market leader in the used commercial sector, with 400 units this December and a market share of 38.3 per cent. Nissan and Fiat followed behind, with 204 units and 94 units, respectively.

Out of the main centres, Wellington was the standout, with an increase from 50 units in December 2016 to 67 last month, a rise of 34 per cent. Dunedin jumped 25.7 per cent from 35 to 44 units, and Christchurch gained 10.7 per cent with 124 units last month compared to 112 December 2016.


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Turners pre-tax profits up 21%

Turners is benefiting from growing retail sales, an increasing loan book and a scaled up insurance business.

Turners Automotive Group Limited has reported a 44 per cent increase in revenue and a 21 per cent increase in pre-tax profit growth for the six months as it benefits from growing retail sales, an increasing loan book and a scaled up insurance business.

Revenue was $163.8m for the six months ended 30 September 2017, while Net Profit Before Tax increased to $14.2m. Net Profit After Tax was $10.0m, up 18 per cent on the previous half year.

Shareholder equity increased to $200.8m as at 30 September 2017, boosted by the $25m capital placement completed in September 2017.

Turners CEO, Todd Hunter, commented: “Turners has reported another positive half year of growth and, while some softening in the used vehicle market was seen during the election period, overall market trends are positive and growth prospects remain strong. We are continuing to benefit from our vertically integrated business model. Finance receivables are growing strongly, as are insurance premiums, both on the back of increasing used vehicle sales. 

Following the acquisition of Buy Right Cars and the Autosure insurance business, Turners have delivered improvements in revenue and have positioned themselves in a good place for growth.  

“We are continuing to innovate with the development and launch of new products and services designed to deliver a superior customer experience. While the market is incredibly fragmented and competition is active, we believe we have unique attributes and competitive advantages which position us well for continuing growth into the future.

“An uplift is expected in the second half in line with annual trends and due to the positive impact of the growing finance book and as scale benefits are realised.” 

The company has stipulated that it is on track to deliver a Net Profit Before Tax of between $29 million and $31 million for the full year to 31 March 2018. This would represent an 18% to 26% increase on FY17, or 10% to 14% excluding acquisitions.

In terms of their trading performance, Automotive Retail was up 32 per cent to $113.5m and operating profit was up 27 per cent to $8.8m with a full half contribution from Buy Right Cars.

Turners’ focus on retail customers continues, and sales to end users were 72 per cent of all car purchases in the first half. These sales deliver higher margins and provide more opportunities to sell finance and insurance products.

The usual seasonal dip in trading margins has been longer and stronger this year, due to the increased supply of new and used import vehicles and increasing competition. 

Investment is continuing in purpose built sites in targeted locations for the Auto Retail Division. Two new Trucks & Machinery sites in Wiri and Palmerston North are now operational, and an additional site is being developed in Hamilton.

A new Turners Cars site is being developed in Porirua and a new site has just been acquired in Whangarei. A new Buy Right cars site is also under development in Penrose, adjacent to the main site in Auckland.

Turners Automotive Group Limited is an integrated financial services group, primarily operating in the automotive sector

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Confidence returns to used car market

Confidence has returned to the used car market after September’s pre-election slow down.

There were 14,118 registrations of used imported passenger vehicles in October – up 11.1 per cent compared to the same month last year and an increase of 473 sales on September’s total of 13,645.

During the past 12 months, sales of used cars have totaled 162,571 – up 9.9 per cent on the previous 12 months.

Toyota continues to top the sales’ table with 3,509 sales for the month – up 5.6 per cent from the same time last year. Nissan was the second marque with 2,762 registrations – up 17.3 per cent on October 2016, and Mazda rounded out the top three on 2,296 units – up 18.2 per cent.

Year to date, Toyota has sold 34,290 units for a market share of 25.1 per cent, Nissan on 25,387 and 18.6 per cent and Mazda with 20,903 units and 15.3 per cent of market share.

The battle for top model continues to be close with the Mazda Axela, Nissan Tiida and Suzuki Swift making up the top three respectively. There were 657 Axela sold – 21.7 per cent on the same month last year, 613 Tiida – a fall of 9.5 per cent, and 579 Swift – up 21.6 per cent on October 2016.

The three cars hold 4.5 per cent, 4.3 per cent and 4.2 per cent of the year-to-date market share.

When looking at the individual regions, sales for October increased almost throughout New Zealand.

Registrations of used cars increased by a massive 91.1 per cent in Gisborne, with 86 units compared to 45 during October last year. Rotorua dealerships also had a great month with sales up 53.4 per cent on 204 registrations compared to 133 and Wanganui was close behind up 49.4 per cent on 115 units for October.

Invercargill was the top sales region in the South Island with sales up 34 per cent on 205 units compared to 153 in October 2016.

Auckland sales were up a modest 4.5 per cent with 6,618 sales in October compared to 6,335 in the same month last year.

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