Wholesale car trade dips

Wholesale trade sales of motor vehicles and parts fell by $50 million in the June 2022 quarter for a 1.5 per cent decrease from the first three months of the year, according to Stats NZ.

It took the total sales value for the sector to $3.366 billion, compared with $3.416b in the March 2022 quarter.

The dip in the seasonally adjusted figures was in contrast to the total value of overall wholesale trade sales climbing $2.6 billion – or 7.4 per cent –to $37.5b over the same period. 

The value of wholesale stock for motor vehicles and parts, when adjusted for seasonal affects, increased by $56m – or 13.1 per cent – from the March to June 2022 quarters.

For the three months to the end of June it tallied $2.293b, the highest figure since the December 2019 quarter when it stood at $2.326b and up from $2.027b in the March quarter of this year.