Toyota NZ breaks sales records

Toyota New Zealand sold a record 42,581 new and used vehicles in its latest financial year, the highest volume ever in the company’s history.  

The local unit of the Japanese car maker also generated the highest ever revenue recorded.  Revenue increased to $1.4 billion in the year ended March 31 from $1.2 billion the year earlier. 

Their profit edged up to $21.9 million for the 12 months preceding March 31, compared with $21.7 million the year earlier. 

"The New Zealand economy continues to perform strongly on the back of healthy agricultural exports, record immigration, growing tourism and a construction sector buoyed by both post-earthquake rebuilds and high levels of housing demand," Toyota said in its 2018 annual report. 

While the change in government mid-way through the fiscal year had an impact on business confidence, retail consumer demand has remained solid, Toyota said.

Toyota said the most significant impact from the new government will be an increased focus on environmental issues, which is likely to see supply-and demand-side initiatives for reducing the carbon dioxide impact of motor vehicles.