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MTF prepares for disruption

Motor Trade Finance’s underlying annual earnings dropped 7.6 per cent, meanwhile both of its sales and market share increased.

Overall net profit rose to $7.5 million in the year ended September 30, compared to the previous year where MTF landed on $7.2 million.

However after removing tax the underlying profit actually fell to $7.3 million compared to $7.9 million in 2016.

After introducing various initiatives, MTF has had “a very buoyant year” where sales have jumped 36 per cent to $567.4 million.

Last November MTF introduced the non-recourse lending partnership with Turners Automotive Group which allows franchisees and dealers to sell vehicles to people with higher credit risks.

The company said its market share rose to 13.6 percent in the year from 11.6 percent in the prior period, and non-recourse lending contributed $58.6 million in sales in the year.

Usually non-recourse receivables are not included on the company’s balance sheet as they are funded by Turners; however the company included as they are generated through its business channel.

The advent of car-sharing, autonomous vehicles and new technologies means the vehicle industry is in for a big disruption. In order “to reflect and encourage broader asset lending,” MTF will drop references to vehicles in its branding.

“The worldwide speculation surrounding disruption in the areas where we operate, being the automotive and financial markets has intensified over the past year,” the company said.

“What we do know is that our markets are set for change, and while the extent and pace of this change remains unclear, we know we must position ourselves to adapt early and not wait to react.”

The board declared a 7.37 cent dividend, payable on Nov. 30. That brings the annual payout to 13.37 cents per share, down from 13.96 cents per share in 2016.

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Toyota on becoming import only

The demise of Australian vehicle production has meant that Toyota has transformed into an import-only brand, following in the footsteps of former manufacturers Holden and Ford Australia. (more…)

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Kia has record sales

The Kia Sportage

Kia Motors Corporation has announced its September 2017 global sales figures for passenger cars, recreational vehicles and commercial vehicles – and has notched a record total of 252,254 registrations.

Last month, its domestic market sales totalled 48,019 units. This represented an increase of 25.4 per cent compared with the same month last year. It was largely due to the timing difference of the Chuseok holiday, which was in September 2016 compared to October this year. Overseas sales also increased by 3.6 per cent compared to the previous year. This total came in at 204,235 units.
Kia’s best-selling model in overseas markets during September 2017 was the
Sportage compact SUV with 37,746 registrations. The Cerato compact sedan – also known as the Forte or K3 in some markets – was the second best seller with 28,793 units sold.

It was followed by the sub-compact Rio – known as the Pride in Korea –
with 24,760 registrations.

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Solid month for used car sales

Passenger vehicle registrations increased by a healthy 8.6 per cent last month compared to the same month in 2016 with 1,081 more registrations. There were 13,645 sales compared to 12,564 a year earlier.

When compared to August sales reduced by 5.78 per cent from 14,483 registrations. August remains 2017’s best sales month.

So far in 2017, there’s been 122,510 used imported car registrations.

Toyota has retained the top spot with a market share for the month of 23.7 per cent with 3,234 registrations. Nissan is second with 2,538 sales followed by Mazda with 2,220.

The battle for top model is a lot closer with the Mazda Axela, Suzuki Swift and Nissan Tiida making up the top three. They hold 4.6, 4.4 and 4 per cent market shares respectively.

The Nissan Leaf continues to gain popularity with sales of 182 units, an increase of 230 per cent on the 55 sales in September 2016. The electric vehicle has now climbed to gain 1.3 per cent of total used imported cars.

The other stand out for the month was the Mazda CX-5 with 130 registrations – up 900 per cent on 13 sales during the same month last year.

In terms of the regions, Oamaru had a stellar month with 33 sales in September compared to 19 during the same month last year – an increase of 73.7 per cent. 

Up north, Rotorua dealers registered 198 used cars – up 41.4 per cent on September 2016’s 140 sales. 

For the second month in a row, New Plymouth and Invercargill also did well when compared to this time last year with increases of 35.3 and 28.8 per cent.

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Renault-Nissan dismisses ‘peak car’ notion

The chief executive officer of the Renault-Nissan alliance has dismissed the notion that the era of personal ownership of cars is ending, predicting in Paris yesterday that his alliance will sell more than 14 million cars a year by 2022, Forbes reports.

Carlos Ghosn says that this number is more or less inevitable.

“Fourteen million is not a target, it is not an objective,” Ghosn says. “What I am telling you is what our assumptions are. Our forecast is that by the end of 2022, we should reach 14 million cars. We estimate that the total market by the end of 2022 will be between 108 and 110 million cars.”

This would be significantly up from a worldwide volume of 95 million units in 2016. In this sense Ghosn seems to dismiss the notion that ride sharing and autonomous vehicles will eat into the personal car market.

“When you take a look at the total revenues from selling cars and the expected revenues of mobility services, even six years down the road it will be totally imbalanced,” Ghosn says.  “I don’t think that mobility services will represent a big portion of revenues, compared to selling cars, parts, accessories, servicing of cars etc.”

With Avtovaz, the Alliance has Russia’s largest carmaker. In India, Renault outsells all European and American OEMs. The Alliance’s Mitsubishi is also strong in South East Asia.

Renault and Nissan are invested in the EV market, having recently announced a joint venture with a Chinese company to produce EVs in the PRC. There are some 1.4 million EVs on the world’s roads, and more than half a million of those have been made by Alliance partners.

 

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Isuzu joins leader board

There were 1,148 used commercial vehicles sold during August, which was a 14.6 per cent increase on the 1,002 units registered in August 2016.

Toyota continues to hold on to its pole position as market leader with 520 registrations, up 7.9 per cent on August last year when 482 units were sold. Nissan followed with 269 registrations up a healthy 26.3 per cent on the same month last year on 213 units, and Isuzu was third with 74 sales, a massive 68.2 per cent increase on August 2016’s sales of 44 units and relegating Mazda into fourth.

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

Year to date, Toyota has a 46.8 per cent share of the market with 4,025 registrations, while Nissan has a 21.5 per cent market share with 1,845 sales and Mazda continues to hold onto third with a 6.8 per cent market share on 589 units.

Toyota Hiace held steady at the top of the commercial vehicle models table with 399 registrations for the month, an increase of 13.7 per cent on August 2016, and a market share of 34.8 per cent. Year to date, there has been 3,048 Hiace sold for an overall market share of 35.4 per cent. Nissan Caravan registrations fell 7.6 per cent from 92 in August last year to 85 last month, while the Mazda Bongo was third despite a 30.9 per cent drop from 68 sales a year ago to 47 in August. Isuzu Forward had a 214.3 per cent increase in sales from seven during August 2016 to 22 last month.

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Yamaha posts profit

Yamaha Motor Company has announced that in the first half of its fiscal year consolidated net sales of 828.1 billion yen were up 6.4 per cent from the previous year.

The company achieved all-time highs in operating income of 82.2 billion yen (up 25.7 per cent), ordinary income of 83.5 billion yen (up 51.1 per cent), and net income for the period attributable to parent company shareholders of 60.8 billion yen (up 87.5 per cent).

In emerging markets, motorcycle sales rose and operating income was significantly higher . In developed markets, motorcycles, marine, industrial machinery and robot products and electrically power-assisted bicycles contributed to increased sales and income.

Motorcycle net sales rose 6.6 per cent, supported by brisk business in emerging markets, and operating income soared 86.8 per cent due to a more competitive product mix and lower costs. Marine business net sales rose 5.5 per cent on the strength of outboard motor sales in North America. Power products declined 4.0 per cent but industrial machinery and robots climbed 30.4 per cent, boosted by surface mounter unit sales. Drive units for electrically power-assisted bicycles surged in Europe.

For the year, Yamaha Motor forecasts net sales rising 8.5 per cent to 1,630.0 billion yen, operating income rising 24.3 per cent to 135.0 billion yen, and net income attributable to parent company shareholders rising 42.5 per cent to 90.0 billion yen. All figures have been upwardly revised from initial forecasts. The full-year dividend forecast has been raised to 78 yen, up 18 yen from the previous year.

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Used imported commercials steady

The Toyota Hiace was New Zealand’s best-selling used commercial in July

Used imported commercial vehicle sales have eased slightly from last month, down 3.5 per cent to 1,089 vehicles; however they are up a healthy 16.8 per cent compared to July 2016, when 932 units were registered.

Year to date, 7,451 used imported commercial vehicles have been sold, up 27.7 per cent compared to the first seven months of 2016, when 5,837 units were registered.

Toyota dominated the market, with 530 vehicles sold, a 21 per cent increase compared to July last year, taking out a 48.7 per cent market share for the month.

They were followed by Nissan on 233 sales, down 0.4 per cent but claiming a 21.4 per cent market share. Distant third was Mazda with 68 sales in July, a 19.3 per cent increase on the same month last year and a monthly market share of  6.2 per cent.

The Toyota Hiace continued to be the commercial vehicle of choice in July, with year-on-year sales up 29.7 per cent on last July to 419 vehicles, which was 38.5 per cent of the total market share for July in this segment. Sales fell 22.8 per cent for the Nissan Caravan, but it remained in second place with 71 units sold. The Mazda Bongo completed the top three models with sales up 25.5 per cent and 59 vehicles registered.

Numerous regions around the country saw a large increase in sales percentages but with low overall numbers, including Gisborne and Masterton, which were both up 600 per cent to seven sales, from one last year, and Westport, up 200 per cent to three sales.

Among the larger centres, Dunedin had highest sales growth, up 176 per cent, or 30 units, to 47 sales.

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McLaren records profit

McLaren Automotive has accelerated to a fourth consecutive year of profitability.

The autonomotive manufacturer posted a profit of £9.2M from an annual sales revenue of £649.8M in 2016. This gave McLaren Automotive a fourth consecutive year of profitability in only six years, since start of sales in 2011. This was an increase in profit before tax of 70 per cent compared to the £5.4M reported in 2015.

An operating profit of £65.8M in 2016 was the company’s highest ever, standing at 10 per cent of turnover and representing a 180% increase over 2015.

“The positive financial performance in 2016 was underpinned by a 44 per cent increase in sales revenues and is further proof that McLaren Automotive’s growth plans are both achievable and sustainable,” said McLaren Automotive chief executive officer, Mike Flewitt.

In its first full year of production, the Sports Series family accounted for 2,031 deliveries, the majority of which came from the recently-introduced McLaren 570GT and 570S models. The McLaren 675LT Coupe and Spider models both sold out in weeks and in total 1,255 Super Series cars were sold in 2016.

The Super Series also continued its success story thanks, in large part, to the McLaren 675LT Coupé and Spider models. Having both sold out in a matter of weeks, the limited production, even more driver-focused and higher-performance derivatives of the Super Series started production in mid-2015 but continued through 2016. In total, 1,255 Super Series cars were sold in 2016.

In March 2017 the second-generation McLaren Super Series, the new McLaren 720S, was launched. The new car generated immediate customer interest and some 1,500 orders have been taken to date. A new convertible Sports Series model, the 570S Spider, was announced on 14th June 2017 and makes its world debut this week in the UK at the Goodwood Festival of Speed.

“The McLaren Automotive business continues to perform strongly, with 2016 returning a fourth consecutive year of positive financial results,” said McLaren Automotive chief financial officer, Paul Buddin.

”Profit before tax was up by 70% to £9.2M, from our highest-ever operating profit of £65.8M, an increase of 180% over 2015. These results were driven by vehicle sales totalling 3,286 in 2016 – 99% up year-on-year and another record – and significant growth in revenues from McLaren Special Operations (MSO) and McLaren Automotive Aftersales operations.”

During 2016, McLaren Automotive invested £129.1M in new projects, across the Sports Series, Super Series and Ultimate Series product families. The Track22 Business Plan sees McLaren investing an industry-leading percentage of turnover (20% in 2016) in R&D activities over the period of the plan.

This will take the company towards its objective of producing more than 4,500 vehicles annually by the end of 2022, with at least 50% of these cars featuring hybrid powertrain technology. The Business Plan also includes the development of a fully-electric powertrain for a concept car to evaluate its possible use in a future Ultimate Series. In 2016, the early prototype stages of the development work commenced.

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Cherokee tax break

The 2017 Jeep Grand Cherokee premium SUV is the second petrol powered, American-made, American-brand vehicle to qualify for Japan’s Eco-Car tax break. The 2016 Jeep Cherokee Trailhawk was first.

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Advertising sways customers

According to a survey by the Motor Ombudsman, approximately a quarter of consumers are swayed by advertisements.

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