Wholesale car trade on the up
Wholesale trade sales of motor vehicles and parts rose by $512 million in the March 2021 quarter, an 18 per cent increase from the total for the final three months of 2020, according to Stats NZ.
The sector led the way as overall wholesale trade sales climbed $1.1 billion – or 3.7 per cent – over the same period. This marked a rebound from the seasonally adjusted fall of $494m, or 1.7 per cent, in the December 2020 quarter.
Sue Chapman, business insights manager, says: “Wholesale trade sales of motor vehicles took a tumble in the Covid-affected June quarter. However, the increase in the March 2021 quarter, has lifted the year-ended March 2021 sales to just shy of the previous year’s level.
“At the same time, the high demand and import supply issues have caused wholesale trade vehicle stock levels to drop by more than $250m over the same period.”
Imports of vehicles, parts, and accessories were also up $388m, or 21 per cent, in the March 2021 quarter compared with the same time a year ago. However, on a year-end March basis, vehicle imports had tumbled 18.4 per cent over the same timeframe.