February issue out now
The Financial Services Federation is calling for strict criteria on assessing loan affordability to be scrapped. It’s lobbying for amendments to legislation, which came in two months ago, to be canned and responsible-lending criteria reinstated instead.
This comes on the back of approval rates for potential car buyers nosediving. Plus: What the Motor Industry Association (MIA), Imported Motor Vehicle Industry Association (VIA) and Motor Trade Association (MTA) think about what’s fast becoming a credit crunch.
Road-user charges appear next in line for a government shake-up. Lower fees for vehicles using cleaner fuels or powered by some form of electrification are among ideas touted in a discussion document that’s out for consultation. Autofile explores the implications for EVs and low-carbon fuels, while transitory rates may feature in the future.
The government should postpone the launch of clean car standard, says the MTA. It has joined other industry associations in projecting the supply of electric cars “simply isn’t there” for New Zealand to hit proposed targets. It believes consumers looking to replace current vehicles with fresh imports will have no choice but to turn to those with internal combustion engines (ICEs).
The MIA is lobbying that ongoing talk of banning ICEs may be premature if synthetic fuels can be produced at scale. It says future government policies on cutting transport emissions should focus on “reducing or eliminating the use of hydrocarbon fuels rather than technology providing motive power”.
VIA’s chief executive, David Vinsen, peers into a “murky” crystal ball. His predictions for the future include continued volatility in supply and demand, and he recommends businesspeople to be agile enough to adjust to the inevitable changes coming.
• January was a monster sales month for Mitsubishi. It headed up four ladders – top marque for cars and for commercials, as well as the Outlander and Triton being New Zealand’s most-popular car and ute.
• The MTA’s Tony Everett notes private buyers were behind a “good chunk” of 2021’s increase in new-vehicle sales. They were “out there in force with more than 70,000 purchases – up from the typical 50,000-unit level”.
• The Mustang and Camaro will face off in the 2023 Repco Supercars Championship season under new Gen3 regulations. What’s under their bonnets?
• Kit Wilkerson, of VIA, looks at legislating rights to repair in New Zealand. He says: “Our laws need to be suitable to our market as opposed to parroting decisions of other jurisdictions.”
• Liam Lawson and Marcus Armstrong are switching teams for the next FIA Formula 2 season.
Plus: In-depth statistics with expert opinions from major players, industry movers, news on latest models and much more.
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