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.