New car sales stabilising at a low level

Sales of new cars in June were down 36% compared with the same month a year ago, according to registration data released today by the NZ Transport Agency. However 4,306 vehicles were sold, higher than the 3,525 in April and the 3,975 in May. Toyota's share was 18%, followed by Ford and Hyundai at 9% share. Commercial vehicles had a similar pattern of sales - down 36% from the same month a year earlier, but higher in June than for any of the other months of 2009. New annual sales rate of new vehicles is now down to just 80,000, its lowest level since 2002. Sales of used car imports were down 23% from June 2008, but also higher than any month since February 2009.