The New Zealand new vehicle market started strongly last year, but the economic winds of change started to blow from mid-year, and every month from July onwards saw a year on year decline on the equivalent month in 2007, an automakers trade group said.
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December new car sales fell 6.1% to 5,224 while new commercial vehicle sales were also off 6.1%, to 1597.
Full year passenger car sales fell 5.2% to 73,397 while commercials were off 4.3% to 23,933.
Passenger car sales for 2008 were the lowest since 2003.
“It’s a reality that New Zealand’s new vehicle market is being affected by global economic conditions,” said Motor Industry Association CEO Perry Kerr.
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By GlobalData“But the figures are not as dismal as they are in certain other parts of the world. Our new vehicle sector, supported by customers who recognise that exchange rates are starting to have an adverse effect on vehicle prices, is proving very resilient to challenging market conditions.”
Toyota dominated the Kiwi market in 2008 with almost twice the market share (22%) of its nearest rival Ford (12%) while its Corolla line ended the year as country’s biggest-selling car model by far, with 60% more sales (6,648) than the second placed General Motors Holden Commodore (4,160).
